European Shares Seen Little Changed At Open

(RTTNews) - European stocks are seen opening narrowly mixed on Thursday as investors look ahead to the European Central Bank's monetary policy announcement later in the day.

The ECB is widely expected to reduce interest rate by 25 basis points but there's a lot of uncertainty around what the central bank could do next in view of uncertainties both at home and abroad. The focus will be on what bank President Christine Lagarde says about future decisions.

The Russia-Ukraine conflict will also be in the spotlight, with U.S. President Donald Trump saying that Russian President Vladimir Putin was not ready for an "immediate peace" in Ukraine and is planning to retaliate for Kyiv's drone attack on his country's bomber fleet.

As bilateral trade talks continue, Canada's largest private-sector union, Unifor, is urging the federal government to respond forcefully to the imposition of new U.S. metals tariffs.

Mexico threatened countermeasures while Europe's top negotiator said the doubling of metals tariffs is not helping negotiations.

Japan is sending key trade negotiator Ryosei Akaza to the U.S. today for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington.

Elsewhere, global automakers and governments are fretting over restrictions placed by China on exports of critical minerals.

The move, which threatens to halt global supply chains, is seen as leverage by China in its trade war with Donald Trump.

In economic releases, reports on weekly jobless claims and the U.S. trade deficit may garner some attention later in the day after weak jobs and services data rekindled growth concerns.

Asian markets were mostly higher while the U.S. dollar languished after falling in the previous session.

the dollar softened in muted trading and gold was marginally lower below $3,370 per ounce.

Oil extended declines after a build in U.S. gasoline and diesel inventories and amid signs Saudi Arabia is seeking another big production increase at next month's OPEC meeting.

Overnight, U.S. stocks fluctuated before ending mixed while Treasury yields dipped as disappointing economic data raised concerns about the economic outlook but reinforced speculation that the Federal Reserve will cut interest rates at least twice this year.

Private sector jobs increased by just 37,000 in May — the slowest pace in more than two years, payroll processor ADP said.

"ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE. He is unbelievable!!!," Trump said in a post on Truth Social.

Another report showed the U.S. services sector contracted for the first time in nearly a year in May and businesses paid higher prices for inputs, raising fresh stagflation concerns.

The Dow slid 0.2 percent to snap a four-day losing streak, while the S&P 500 finished marginally higher and the tech-heavy Nasdaq Composite gained 0.3 percent.

European stocks closed higher on Wednesday after EU trade chief said talks with the U.S. were advancing in the right direction.

The pan European STOXX 600 advanced half a percent. The German DAX climbed 0.8 percent, France's CAC 40 rose half a percent and the U.K.'s FTSE 100 added 0.2 percent.