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9 Sep 2015
European indices tipped off for a flying start, FTSE awaits UK data
FXStreet (Mumbai) - The stocks on the European bourses are expected to extend their previous rally, taking positive lead from their Asian peers, which showed a solid performance throughout.
Nikkei steals the show
Stocks in Asia rallied on the back of news that China's Ministry of Finance will roll out more forceful fiscal policy to boost the slowing economic growth in the country, including investment in major construction projects. Moreover, officials also announced some income tax changes to dividends in order to encourage long-term investment in Chinese shares.
The Chinese benchmark, the Shanghai Composite now trades 0.91% higher at 3200 levels while the Nikkei closed 7.7% higher at 18,770 points.
Ahead of Europe open, futures for Germany's DAX 30 index added 1.99% to 10,485.50, while futures for the UK's FTSE 100 index advanced 1.38% to 6,232.30. Among the other indices, French CAC 40 futures gained 1.97% to 4,687.50, while futures for the pan-European Euro Stoxx 50 index increased 2.10% to 3,304.00.
Later in the session, UK will report its industrial output figures and are expected to grow 0.1% and 1.4% in July on a monthly and yearly basis, respectively. Manufacturing production is set to rise 0.2% on a monthly basis in July, while 0.5% growth is likely year-on-year.
Meanwhile, the total trade balance in the UK may show a deficit of £1.95 billion for the month of July, which would be a widening from the gap of £1.6 billion.
Nikkei steals the show
Stocks in Asia rallied on the back of news that China's Ministry of Finance will roll out more forceful fiscal policy to boost the slowing economic growth in the country, including investment in major construction projects. Moreover, officials also announced some income tax changes to dividends in order to encourage long-term investment in Chinese shares.
The Chinese benchmark, the Shanghai Composite now trades 0.91% higher at 3200 levels while the Nikkei closed 7.7% higher at 18,770 points.
Ahead of Europe open, futures for Germany's DAX 30 index added 1.99% to 10,485.50, while futures for the UK's FTSE 100 index advanced 1.38% to 6,232.30. Among the other indices, French CAC 40 futures gained 1.97% to 4,687.50, while futures for the pan-European Euro Stoxx 50 index increased 2.10% to 3,304.00.
Later in the session, UK will report its industrial output figures and are expected to grow 0.1% and 1.4% in July on a monthly and yearly basis, respectively. Manufacturing production is set to rise 0.2% on a monthly basis in July, while 0.5% growth is likely year-on-year.
Meanwhile, the total trade balance in the UK may show a deficit of £1.95 billion for the month of July, which would be a widening from the gap of £1.6 billion.