European markets focus on U.S. unrest and global economic recovery

European stocks are expected to open lower Thursday as investors assess the outlook for the global economy after the coronavirus pandemic, while keeping an eye on protests in the U.S.

London’s FTSE is seen 32 points lower at 6,382, Germany’s DAX is expected to open 32 points lower at 12,435 and France’s CAC 40 is seen 21 points lower at 4,995, according to IG.

Global markets are continuing the weigh up an economic recovery following the coronavirus pandemic. U.S. stocks surged Wednesday after a report from ADP showed private payrolls stateside falling by 2.76 million in May — much less than the 8.75 million expected from economists surveyed by Dow Jones. However, futures contracts tied to the major U.S. stock indexes idled during the overnight session Wednesday.

In Asia, stocks were mixed in Thursday afternoon trade as investors assessed the prospects of economic recovery from the coronavirus pandemic. 

In the meantime, U.S. protests over the death of George Floyd, an unarmed black man, in police custody, continued although nationwide tensions appeared to ease Wednesday. 

Thousands of demonstrators launched peaceful protests across the U.S. over the death of Floyd, though major cities plan to continue enacting earlier curfews and beef up law enforcement resources after days of violence.

In Europe, earnings come from Remy Cointreau on Thursday and the European Central Bank gives its latest monetary policy announcement at 12:45 p.m. London time.

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