European shares poised for quiet end to strong week, earnings loom
European shares were poised for their best week in more than two months as investors piled back into equities on signs that the world`s major central banks would likely not tighten monetary policy as quickly as some had feared.
The move on indexes on Friday was more muted as investors hunkered down ahead of earnings reports from major U.S. banks including JPMorgan and Citigroup later in the day.
The pan-European STOXX 600 index was flat in percentage terms by 0852 GMT while euro zone bluechips were little changed.
"In Europe, we`re still not dealing with any higher interest rates, which should be benefiting the U.S. (banks) slightly in terms of net interest margin," Mike van Dulken, head of research at Accendo Markets, said.
"That said we`ve still got the supportive QE helping, but yields are still low, which is not great for the banks."
Accendo Markets` van Dulken added that Federal Reserve Chair Janet Yellen had been very non-committal in her comments about both interest rates and the balance sheet.
Firmer metals prices underpinned gains on mining stocks.
Miners were led higher by steel firms Outokumpu, ArcelorMittal, and Tenaris which rose after U.S. President Donald Trump said that he was considering quotas and tariffs on Chinese steel dumping.
Analysts at Barclays said that they remained positive on the European mining sector, which has gained just 4 percent so far this year after rallying more than 60 percent in 2016.
"Chinese rates are falling, demand indicators across the economy appear healthy, industry capex discipline is holding, M
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