(RTTNews) - European stocks may fall slightly on Thursday amid thin volumes in the absence of any triggers on both the domestic and global front.
Most Asian stocks edged higher on Thursday, as crude prices stayed firm above $91 a barrel ahead of the U.S. inventory data and copper rallied to record highs in London and New York on optimism that economic recovery will gather momentum in the new year.
However, Japan's Nikkei average fell over a percent ahead of the New Year holidays due to a firming yen. Elsewhere, South Korea's Kospi rose 0.37% and shares in Australia, Singapore and Taiwan posted modest gins, while Hong Kong's Hang Seng saw a modest 0.10% loss.
In the forex market, the dollar fell against a basket of currencies in thin Asian holiday trading due to falling U.S. bond yields. South Korea's won rose for a fourth day against the dollar after Bank of Korea official Lee Young Bog forecast a sizable current-account surplus for December on the back of solid exports.
Closer home, business sentiment and producer price data from Italy scheduled to be released today could influence market sentiment. Also, investors look ahead to data on weekly U.S. jobless claims, pending home sales and the manufacturing sector to gauge the health of the world's largest economy.
Overnight, U.S. stocks managed to post modest gains despite struggling a bit towards the end of the session amid the lack of any first-tier economic data and thin business volume due to year-end holidays. The Dow and the S&P 500 ended the day up about 0.1% each and the Nasdaq rose 0.2%.
In Europe, stocks turned in a mixed performance on Wednesday amid thin volumes as many traders remained on extended holidays. The FTSE 100 index closed down 0.2% following a four-day break over the Christmas period, while France's CAC 40 added 0.8% and the German DAX ended up 0.3%.
