Global growth outlook concerns over negative early European trade

Global markets remained cautious on Thursday as major European equity markets remained in red and government bonds maintained a sluggish tone. The majority of emerging stock markets lost ground in early European trade, trailing major global bourses lower amid weak corporate earnings reports, Eurobank Global reported.

"Regional currencies remained mixed today; today’s focus also lies on the upcoming April inflation data releases from Serbia and Poland," Eurobank Global said in a research report.

The Bank of England is expected to stay on hold at its monetary policy meeting today. However, market focus will be on the BoE Governor’s press conference and the updated BoE inflation report which is likely to show growth forecasts revised downward.

The EuroWorking Group in Greece is set to meet later today work on the technicalities of the contingency mechanism, as well as the modalities of debt relief before reporting back to the Eurogroup which is scheduled to meet on May 24.

Further, the ECB is likely to consider the reintroduction of Greek waiver at the June 2 meeting, conditional on the completion of the 1st programme review.

At 10:45AM GMT, Euro Stoxx 50 rose 0.35 pct to 2,966.05 while DAX rose 0.29 pct to 10,006.13.