Commuters crossing a junction near the Bank of England (BOE), left, in the City of London, UK, on Wednesday, May 8, 2024. Bank of England policymakers appear the most divided since they brought their hiking cycle to a close last year, illustrating the challenge that Governor Andrew Bailey faces in steering his colleagues toward possible interest-rate cuts in the coming weeks. Photographer: Hollie Adams/Bloomberg via Getty Images
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LONDON — European markets are set to open mixed as investors attempt to shake off negative sentiment from last week and look ahead to the latest interest rate decision from the Bank of England.
The Stoxx 600 index closed lower Friday, as France’s CAC 40 weighed on the regional benchmark.
French stocks plunged 2.7%, with investors still spooked by the possibility of victory for the populist, far-right National Rally party, following French President Emmanuel Macron’s surprise decision to call domestic parliamentary elections.
Investors are looking ahead to the Bank of England’s policy rate decision on Thursday. The Bank is widely expected to hold rates steady at 5.25%, with the majority of economists polled by Reuters forecasting an August cut.
Elsewhere, Italy releases its latest inflation print Monday. There are no major corporate earnings due.
In Asia-Pacific, markets were mixed on Monday as the region assesses key economic data out from China. U.S. stock futures were little changed on Monday morning as traders start a holiday-shortened week.
