European markets head for higher open as UK election takes place

LONDON — European stocks are expected to open higher Thursday, with the U.K.’s general election in focus in the region.

The U.K.’s FTSE index is expected to open 12 points higher at 8,181, Germany’s DAX up 26 points at 18,404, France’s CAC 40 up 12 points at 7,650 and Italy’s FTSE MIB up 45 points at 34, 067, according to data from IG.

The U.K. general election is being held Thursday. Polls open from 7a.m. to 10 p.m. local time. Voter polls conducted in the run-up to the election pointed to a significant win for the center-left Labour Party, potentially ending 14 years of Conservative Party rule.

Overnight, Asia-Pacific markets were mostly up Thursday as Japan’s Topix crossed its all-time high of 2,886.50, previously set in December 1989.

The S&P 500 rose to new highs in Wednesday’s shortened trading session as investors appeared to shrug off sluggish economic data. Trading volume was muted Wednesday, with the New York Stock Exchange closing early at 1 p.m. ET. The exchange will be shut on Thursday for Independence Day.

There are no major European earnings or data releases Thursday.

Source from CNBC: https://www.cnbc.com/2024/07/04/european-markets-uk-general-election-takes-place-data-earnings.html