FX.co ★ European Stocks Set for Muted Open

European equity markets were poised to open largely unchanged on Friday, as investors stayed cautious following a rebound in global bond yields and renewed doubts over the US government’s bond buyback plan. Oil prices remained elevated, with inflation concerns in focus as the US prepared sweeping new economic sanctions against Iran.

In Europe, market participants will be watching a series of key data releases, including UK retail sales figures, French business confidence indicators, and manufacturing and services PMI reports from the Eurozone, Germany, France and the UK.

On the corporate front, Banca Monte dei Paschi di Siena SpA is pursuing the acquisition of two separate banks in transactions valued at a combined €34 billion, in an effort to ward off a potential takeover bid from rival Intesa Sanpaolo SpA.

In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were hovering near the flatline, with both benchmarks coming off at least five consecutive sessions of declines.