European markets head for mixed open as UK awaits Bank of England’s rate decision – NBC Chicago

LONDON — European stocks are expected to open in mixed territory Thursday, with U.K. investors looking ahead to the Bank of England’s policy rate decision.

The U.K.’s FTSE index is expected to open 16 points higher at 8,212, Germany’s DAX up 21 points at 18,087, France’s CAC 40 up 3 points at 7,568 and Italy’s FTSE MIB up 10 points at 33,192, according to IG.

U.K. traders will be focused on the Bank of England’s rate decision Thursday, although the central bank is widely expected to hold rates steady at a 16-year high of 5.25%, with the majority of economists polled by Reuters forecasting a cut in August after the country’s July 4 election.

Data released Wednesday showed U.K. inflation rose by an annual 2.0% in May, hitting the BoE’s inflation target.

The Swiss National Bank is also set to release its latest monetary policy decision Thursday. Two thirds of economists polled by Reuters have anticipated the SNB will decide in favor of a 25-basis-point-cut to 1.25%.

Investors will be keeping an eye out on earnings from Boohoo Group and DS Smith. On the data front, flash consumer confidence figures from the euro zone for June will be released.

Overnight, Asia-Pacific markets were mostly lower on Thursday as China kept its one- and five-year loan prime rates unchanged. Meanwhile, S&P 500 futures were little changed on Wednesday as investors look for the benchmark to add to its latest record high.

On the data front, flash consumer confidence figures from the euro zone for June will be released.