MSCI World index flat
U.S. stock futures point to lower Wall Street open
Euro down vs dollar, but eyes best week in 1 month

LONDONTOKYO, July 22 Reuters Global stocks were marginally higher on Friday, eyeing a sixth day of gains as European markets rose, while weak euro zone business activity data hit the euro and weighed on the bloc39;s debt.

The MSCI World index, its broadest gauge of equity markets, was last up 0.04 in early European deals, with the Euro STOXX 50 index up 0.2.

Overnight, the MSCI39;s broadest index of AsiaPacific shares outside Japan fell 0.1, but the index is still set for its biggest weekly gain in about two months.

U.S. stock futures pointed to a lower open after weak overnight earnings from tech company Snap Inc sounded the alarm among investors ahead of earnings from Twitter Inc later on Friday.

SP 500 futures were last down about 0.4, with Nasdaq futures down 0.7.

Despite Russian gas flowing back to Europe and some strong earnings in the region, political tension in Italy tempered sentiment as did the outlook for further central bank action on both sides of the Atlantic amid rising inflation.

The European Central Bank raised interest rates by a biggerthanexpected 50 basis points to zero percent on Thursday, its first hike in 11 years, and ended a policy of negative interest rates that had been in place since 2014.

Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said he remained cautious about the outlook for…