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LIVE MARKETS-European bourses on the backfoot ahead of the open

Reuters - UK Focus

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net

EUROPEAN BOURSES ON THE BACKFOOT AHEAD OF THE OPEN (0633 GMT)

According to IG (Frankfurt: A0EARV - news) , financial spreadbetters expect London's FTSE to open 9 points lower, Frankfurt's DAX to lose 6 points and Paris' CAC to edge 12 points down.

Nigel Green, CEO of deVere Group, wrote that Trump's State of the Union speech markets was unlikely to move markets given that "there were no major surprises for investors", like declaring a state of emergency to fund the Wall or a trade breakthrough with China.

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"As such, the markets will pretty much carry on as before", he reckoned.

In Asia, stocks were subdued on Wednesday after the speech.

Other indications from CMC Markets (LSE: CMCX.L - news) also gave the FTSE 100, the DAX and the CAC 40 trading slightly down at the open.

(Julien Ponthus)

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