European Factors to Watch-Shares to edge lower, focus on central banks


04/07/2012 10:12 AST  Reuters

European stock futures pointed to a slightly lower open on Wednesday after strong gains to two-month highs a day earlier, with investors pausing for breath ahead of Thursday's central bank meetings and as the U.S. market is closed for a holiday.

The European Central Bank is expected to cut interest rates to a record low of less than 1 percent at its policy meeting on Thursday, while the Bank of England might launch a third round of monetary stimulus to counter a recession.

Futures for Euro STOXX 50, Germany's DAX and France's CAC were down 0.1-0.2 percent. Financial spreadbetters earlier predicted Britain's FTSE 100 to gain as much as 0.1 percent.

The FTSEurofirst 300 index rose 1 percent to 1,046.11 points on Tuesday, its highest closing level since early May. It has gained more than 5 percent in the last three sessions after euro zone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks and intervene on bond markets.

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