What you need to know before the open
Something of a mixed open expected for European markets today, with the Fed’s open market committee minutes out later on.
They could shed some more light on the decision to lose the 6.5 per cent guidance threshold on unemployment.
The US saw a positive session yesterday, but there's still worry over how things will pan out in Ukraine, with investors moving away from riskier positions.
Meanwhile, British tech shares took a pounding as uncertainty over the sector, and fears of a nascent bubble, continued to wobble investors.
Even though the International Monetary Fund upped its growth forecasts for the UK, US and Germany yesterday, this week’s losses have wiped out last week’s gains.
This morning, new data’s shown that Germany’s trade balance fell in February, to €15.7bn from €17.3bn. It was expected to increase. Exports fell by more than expected, by 1.3 per cent, while imports rose 0.4 per cent – marginally above expectations.
Corporate news
Toyota’s says it’s recalling 6.4m vehicles for safety reasons.
Online poker firm Bwin.party’s announced its new chairman, Philip Yea. Yea will succeed Simon Duffy next month.
And Rolls Royce has won a contract with the US Navy worth over $100m. It’ll be providing support for the F405 Adour engines that power the Navy’s T-45 training aircraft.
Data in focus
- 9.30am: UK Feb trade balance
- 12.00pm: US MBA weekly mortgage applications
- 7.00pm: US FOMC minutes