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European markets are expected to open lower today

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European stocks are expected to open lower on Friday as markets digest the latest decision from the European Central Bank (ECB). Asian markets traded lower, which will bring negative sentiment to the European session.

The London FTSE index is expected to open 12 points lower at 6,687, the German DAX down 31 points at 10,125 and the French CAC down 16 points at 4,360, according to IG.

Today is Friday and after the continues rally it is very likely to see profit taking, which will lead to declines by the indexes.

In the regular media conference hosted by the central bank, ECB President Mario Draghi said he did not want to underplay the challenges facing the euro zone, including high levels of bad loans in the banking sector and geopolitical instability relating to terrorism and the Brexit vote.

A composite manufacturing and services purchasing manager's index (PMI) from Markit will be published today at 09:00 a.m. London time and will give a preliminary reading of business activity in the euro zone in July.


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