European stocks are seen opening mixed on Monday as investors await the outcome of this week's U.S. Federal Reserve meeting and Chairman Ben Bernanke's post-meeting press conference on Wednesday, where he is expected to find a way to soothe investors fearing a rise in short-term interest rates.
Traders will closely examine the accompanying statement for signs of when the central bank will scale back its stimulus. According to the IMF assessment, the Fed will keep in place its bond purchases through the end of the year and the phase-out would be "very gradual."
Ahead of the European Union summit later this month, the economy and labor ministers from Italy, France, Germany and Spain agreed to seek ways to mobilize funds from the European Investment Bank to effectively reduce youth unemployment. After the meeting on Friday, Italy's Prime Minister Enrico Letta said they intend to finance lending through mini-bonds secured by banks and state-controlled funds.
Asian stocks are trading mostly higher, with Japanese shares rallying, led by defensive stocks amid hopes the Fed will refrain from embarking on a reduction in QE at its June meeting. India's Sensex is moving down 0.2 percent after the Reserve Bank of India kept its key policy rates unchanged amid lingering worries about a tumbling rupee and growing pressure on the current account deficit.
In economic releases, the average asking price for U.K. properties rose to a fresh record high in June, lifted by a jump in prices in the South East and London, the latest survey by Rightmove revealed. Climbing 1.2 percent from the previous month, the average asking price exceeded GBP250,000 for the first time ever. On an annual basis, prices added 2.7 percent, up from 2.5 percent in the previous month.
Across the Atlantic, investors await reports on housing starts, consumer prices and existing home sales this week, although the data may be overshadowed by the Fed meeting.
In domestic corporate news, Swiss drug maker Novartis AG announced that a phase III three-year follow-up study of Jakavi (ruxolitinib) demonstrated improved overall survival in myelofibrosis patients and sustained reductions in spleen size compared to conventional therapy.
Rockwood Holdings, Inc. said that it has agreed to sell its German ceramic materials business CeramTec to European private equity firm Cinven Partners LLP for 1.49 billion euros or $1.98 billion.
Swedish telecommunications firm TeliaSonera AB appointed Johan Dennelind as its President and Chief executive officer who will take on his new position on September 1.
ABB announced its decision to appoint Ulrich Spiesshofer as Chief Executive Officer, effective September 15, 2013.
European stocks finished to the upside on Friday, with lackluster employment data from the euro zone capping gains. The U.K.'s FTSE 100 and the SMI of Switzerland edged up about 0.1 percent each, while France's CAC 40 rose 0.2 percent and the German DAX advanced 0.4 percent.
U.S. stocks ended firmly in the red on Friday, with disappointing industrial production and consumer confidence data weighing on the markets following the previous session's rally. The Dow slid 0.7 percent, while the tech-heavy Nasdaq and the S&P 500 dropped about 0.6 percent each. Industrial output came in unchanged in May, while consumer sentiment eased from a six-year high in June, separate reports showed.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.