European stocks set to open higher as traders monitor UK turbulence, await U.S. jobs report
Welcome to CNBC's live blog covering all the action and business news in European financial markets on Thursday.
Futures data from IG suggests European markets will open higher, with London's FTSE 100 looking set to open 0.3% higher at 8,799, Germany's DAX 0.2% higher at 23,836, France's CAC 40 also up 0.2% at 7,757 and Italy's FTSE MIB up 0.15% at 39,926.
The positive start in Europe comes after a more mixed day on Wednesday, particularly for the U.K. where bond prices, as well as the FTSE, tumbled sharply.
Those moves came after U.K. Finance Minister Rachel Reeves appeared visibly upset in Parliament on Wednesday as pressure mounted on the government over welfare reforms. The government said Reeves was dealing with a "personal matter" and Prime Minister Keir Starmer later said she has his full support.
U.S. stock futures were little changed on Wednesday night as traders braced for June's nonfarm payrolls data. Economists polled by Dow Jones expect that the economy added 110,000 jobs last month. That compares with May's gain of 139,000. Economists also see the unemployment rate inching higher.
In the Asia-Pacific region overnight, Vietnamese stocks climbed to their highest in over three years as investors awaited further details on the U.S.-Vietnam trade agreement that President Donald Trump announced Wednesday.
The U.S. is imposing a 20% tariff on goods imported from the Southeast Asian nation, while the latter will impose "ZERO Tariff," Trump said on Truth Social.
— Holly Ellyatt
Jobseekers talk to recruiters during the New York Public Library's annual Bronx Job Fair & Expo at the Bronx Library Center in the Bronx borough of New York, on Sept. 6, 2024.
Yuki Iwamura | Bloomberg | Getty Images
It's a reasonably quiet day for data and earnings in Europe on Thursday, although Spain and Italy's latest purchasing managers' index data on business activity will be released.
More global market attention will be on the U.S. as June nonfarm payrolls data is released later in the U.S. trading session.
Economists polled by Dow Jones expect that the economy added 110,000 jobs last month. That compares with May's gain of 139,000. Economists also see the unemployment rate inching higher to 4.3%, up from 4.2% in May.
A report from payrolls processing firm ADP released Wednesday morning showed that private sector hiring fell by 33,000 last month.
— Holly Ellyatt. Lisa Kailai Han
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