European stocks are likely to open lower on Thursday as investors remain anxious about the spread of Wuhan Coronavirus that started in China and now threatens to become a global epidemic.
There is some repricing in financial markets after analysts warned that the coronavirus outbreak could damage global growth.
With hundreds of millions of people travelling across China this week for the Lunar New Year holiday, the National Health Commission announced on Wednesday measures to curb the disease nationwide — including sterilisation and ventilation at airports and bus stations, as well as inside planes and trains.
The all-important European Central Bank (ECB) rate decision is due later in the day, though no changes in policy are expected.
Investors wait to hear more about President Christine Lagarde's plans for a strategic review and an updated assessment of risks facing the euro zone economy.
Asian markets remain subdued and gold traded flat, while oil prices fell to their lowest in seven weeks on concerns over fuel demand and on the International Energy Agency's report that forecasts a jump in global oil supply.
On the earnings front, American Airlines, Comcast, Procter & Gamble and Travelers are among the prominent companies that will unveil their quarterly earnings before the opening bell.
U.S. stocks ended narrowly mixed overnight after reaching fresh record intraday highs on the back of upbeat earnings news from IBM Corp and an easing of concerns over a new coronavirus outbreak originating in China.
European markets fell on Wednesday as U.S. President Donald Trump renewed his threat to hit Europe with auto tariffs.
The pan European Stoxx 600 edged down 0.1 percent. The German DAX dropped 0.3 percent, France's CAC 40 index shed 0.6 percent and the U.K.'s FTSE 100 declined half a percent.
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