European markets lose direction as Fed meet approaches

16.09.2016 / 08:42

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The London FTSE index is expected to open 6 points lower at 6,724, the German DAX down 3 points at 10,428 and the French CAC down 2 points at 4,371.,

Market expectations for a rate hike by the Fed next week are just 12 percent after Thursday's data release, according to the CME Group's FedWatch tool. U.S. stocks closed sharply higher on Thursday as the prospect of a rate hike dwindled.

Markets will be keeping a close eye on the U.S. Consumer Price Index (CPI) for August on Friday.

In business news, shares of technology giant Apple have gained in what could be their best week in five years thanks to strong demand worldwide for the iPhone 7. The iPhone maker's stock was up 12 percent for the week and it posted its first four-day winning streak with consecutive gains over 2 percent since April 2009.

Meanwhile, shares in Deutsche Bank fell sharply in U.S. after-hours after the Department of Justice asked the German lender to pay $14 billion to settle allegations of mis-selling mortgage securities.

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European markets lose direction as Fed meet approaches

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