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EUROPE BEFORE THE BELL: STOCKS HEAD FOR DROPS, CHINA IN FOCUS
European stocks are heading for moderate drops at the open, with EuroSTOXX50 STXEc1 futures, FTSE futures FFIc1 and DAX futures FDXc1 all down 0.1%-0.2%.
Markets remain quiet as traders log back in after New Year, with the STOXX 600 .STOXX having closed its first trading day of the year up 0.6% on Thursday.
Market players will be keeping an eye on China-exposed stocks, after news that the country will sharply increase funding from ultra-long treasury bonds in 2025 to spur business investment and consumer-boosting initiatives.
China's onshore blue chip index dropped 5.2% this week, its biggest weekly loss since October 2022. .SS
There are also several developments to track in Britain, including a call by U.S. President-elect Donald Trump to "open up" the North Sea and get rid of windmills in a post on his social media platform Truth Social on Friday.
In addition, industry data showed the number of people visiting British shops last year fell by 2.2%, the biggest drop since 2021, adding to signs of a broader economic slowdown.
And fast-fashion online retailer Shein, which is hoping to list in London, faces a UK hearing on Jan. 7 where a British parliamentary committee plans to question the firm, founded in China in 2008, about the rights of workers in its supply chain.
Elsewhere, some of the world's largest hedge funds finished 2024 with comfortable double-digit returns, benefiting from chaotic markets, central bank policy changes and a tight U.S. presidential election race.
(Lucy Raitano)
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