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Market News

European Markets

Opening calls are indicating a higher open this morning.

Asian Markets

Asian stocks swung between gains and losses on speculation European policy makers will struggle to reach a resolution while they consider deploying $1.3 trillion to fight the region’s debt crisis.

US Markets

U.S. stocks ended mixed Thursday, as European leaders confirmed that they will meet multiple times over the next week to approve a key plan to resolve Europe’ debt crisis.

Investors also breathed a sigh of relief after the Greek parliament passed the latest package of austerity measures.

The Dow Jones industrial average finished 37 points higher, or 0.3%, and the S&P 500 added 6 points, or 0.5%. The tech-heavy Nasdaq composite lost 5 points, or 0.2%

Events today

Euro zone finance ministers will meet in Brussels at 1pm UK time on Friday ahead of the summit on Sunday and before all European Union finance chiefs meet on Saturday.

Outgoing European Central Bank head Jean Claude Trichet will deliver a speech in Warsaw on Friday at 8:40 London time, while German Chancellor Angela Merkel is due to give a government declaration on the EU summit at 8:00.

Key economic data on Friday includes a monthly report from the Ministry of Finance in Berlin and UK public sector borrowing figures are available from 8:30.

Corporate releases out of Europe on Friday include French defence firm Safran which will release its third quarter sales figures on Friday and optical equipment producer Essilor will also release third quarter sales. Swedish auto maker Scania will also release its second quarter results on Friday.