European markets are expected to open lower on Friday as a rocky trading week continues.
The U.K.’s FTSE index and France’s CAC 40 are set to open 0.1% and 0.5% lower, respectively, while Germany’s DAX and Italy’s FTSE MIB are both expected to open around 1.3% lower, according to IG.
It’s been an unsteady week for European markets, with some indexes brushing two-week lows on Tuesday before rebounding through the week.
Food and beverage stocks rallied on Thursday, led by consumer goods giant Nestle. The company’s stock surged 9.3% after it announced job losses; 12,000 roles are to be axed, with a further 4,000 to be cut over the next two years. Nordea Bank’s stock price also reached record highs on Thursday, as the company’s lending income beat expectations.
Earnings will remain a point of focus on Friday.
