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European stocks cautious ahead of global central banks’ events

FXStreet (Mumbai) - Stocks on the European bourses turned into the positive territory, after opening lower on Thursday. However, the gains remain in check as traders remain cautious with a series of minutes from the BOE, ECB and Fed lined for release today.

Meanwhile, markets weigh the latest German trade balance data which disappointed market, with the trade surplus shrinking last month. The trade data revealed that the surplus shrank in Sept to EUR15.3 billion in Aug versus an expected surplus of EUR 19.0 billion. In July, EUR 25.0 billion surplus was generated.

Volatile within narrow range

The German index, the DAX, fluctuates between gains and losses as nervousness persists among the European traders and they prefer to remain on the side-lines.
While The FTSE keeps losses as the miners correct lower after yesterday’s rally. The miners on the index soared on Wednesday after Morgan Stanley said that they expect commodity prices to rise 19% by 2017, adding this “would be a sharp reversal from the experience in the last 18 months.”

Meanwhile, Germany’s DAX trades at 9,990 points, up 0.23% while the UK’s FTSE loses 0.19% to 6,324. Among the other indices, the French CAC 40 index gains 0.22% to 4,677, while the pan-European Euro Stoxx 50 index trades muted at 3,226 points.

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