European markets watch Fed meeting, worried about Ukraine

LONDON – European stocks are expected to open lower on Monday as investors brace for the next US Federal Reserve meeting next week, and monitor developments in the US. Ukraine as tensions with Russia increase.

UK FTSE The index was seen opening 15 points lower at 7,470, in Germany DAX down 35 points to 15,543, of France CAC 40 down 17 points at 7,040 and in Italy FTSE MIB Down 36 points at 26,832, according to data from IG.

European market set up to follow their Asia-Pacific counterparts lower on Monday as investors react to increasing tension between Ukraine and Russia, and ahead of the US Federal Reserve’s monetary policy meeting this week.

The Federal Open Market Committee to meet on Tuesday and Wednesday to decide next steps for US monetary policy.

Rising inflation is a major concern for the US central bank and Investors will listen carefully to see how worried the Fed really is – Chairperson Jerome Powell was briefed by media on Wednesday afternoon local time after the FOMC released its statement.

Meanwhile, markets are likely to be shaken by fears of a possible military conflict between Ukraine and Russia.

United States Department of State Sunday recommended that all US citizens in Ukraine leave the country immediately, citing Russia’s extraordinary military buildup on the border.

A senior State Department official said Sunday night on a call with reporters: “Our recommendation to American citizens currently in Ukraine is that they consider departing now by commercial or private means of transport”.

On Saturday, Britain accused the Kremlin of trying to install a pro-Russian leader in Ukraine. Russia has repeatedly denied it is preparing to invade its neighbour.

Philips is due for earnings on Monday and the release data includes the UK and eurozone purchasing managers’ PMI for the services and manufacturing sectors in January. .

– CNBC’s Amanda Macias and Saheli Roy Choudhury contributed reporting to this story.