European Markets Likely To See Another Choppy Session
(RTTNews) - European markets are likely to track earnings reports and other corporate news for direction on Wednesday.
Uncertainty over an interim trade deal between the U.S. and China may continue to limit market's upside, if any.
The mood is likely to be cautious with investors awaiting the U.S. Federal Reserve will release the minutes of its October monetary policy meeting, for clues about future . The minutes will be out at 2 PM ET.
Automobile shares are likely to remain in focus for a second straight day, thanks to recent encouraging data on car sales in Europe during the month of October.
Vodafone said it has bagged a seven-year technology partnership with Ryanair to handle online booking, passenger boarding and in-flight transactions for the Irish airline.
IAG will be in focus following the indiction of a former executive of British Airways for accepting bribes from a ground handling company.
German drugmaker Merck is reportedly exploring the sale of a pigments business, estimated to be worth around 1.5 billion euros.
According to media reports, Ernest Young auditors have refused to certify the 2017 annual balance sheet of Wirecard's Singapore subsidiary.
Swiss eyecare company Alcon has reported a loss for the latest quarter and trimmed its profit margin outlook. The company has also announced a $300 million restructuring program.
On the economic front today, data on Germany's producer prices figures for the month of October is due at 2 AM ET.
At 3.30 AM ET, a report on capacity utilization in Sweden is due, and at 4 AM ET, the European Central Bank will release its Financial Stability Review.
At 4.30 AM ET, the UK Office for National Statistics is scheduled to release the labor productivity data for the second quarter.
On Tuesday, European stocks saw some hectic buying midway through the session, but retreated in the final hour to eventually end on a mixed note, amid concerns about U.S.-China trade dispute.
The pan European Stoxx 600 declined 0.12%. Among the major indices, the U.K.'s FTSE 100 and Germany's DAX ended higher by 0.22% and 0.11%, respectively. Switzerland's SMI gained 0.18%, while France's CAC 40 ended down 0.35%.
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