LONDON, April 12 (Reuters) - German Bund futures edged up at the open on Friday as investors turned cautious on reports of a funding gap in Cyprus’ bailout package that is likely to top a meeting of European Union finance ministers later in the day.
The two-day informal gathering in Dublin beginning on Friday comes after Reuters and other news organisations obtained documents revealing that the Mediterranean island might have to contribute more than initially thought to its rescue package.
Focus will also be on the deepening problems in Slovenia and Germany’s growing reluctance over euro zone banking reforms.
“The Eurogroup is likely to dominate things. There’s talk of this funding gap in Cyprus. I don’t see a lot of good news for periphery...There could be consolidation in the market while we wait to see what the Eurogroup says,” a trader said.
The Bund future was seven ticks up at 145.32 compared with 145.25 at Thursday’s settlement.