European Stocks Likely To Open On Mixed Note

(RTTNews) - European stocks are likely to open mixed on Tuesday as uncertainty about U.S.-China trade deal, the ongoing unrest in Hong Kong and worries about global growth are expected to render the mood cautious.

Some economic reports are due during the course of the session. Automobile stocks will see action, with data on Europe's new car registrations for the month of October providing some direction.

Volkswagen will be in focus after Volkswagen parts supplier Prevent filed a lawsuit alleging the automaker used anti-competitive tactics to stop larger suppliers from acquiring smaller rivals in the United States.

The carmaker is scheduled to report its sales today.

Tata Steel said on Monday that it will cut up to 3,000 jobs across its European operations due to weak demand for steel and high costs.

Asian markets were turning in a mixed performance amid continued uncertainty about U.S.-China interim trade deal.

In commodities, WTI crude oil futures were down $0.22, or about 4%, at $56.82 a barrel.

Brent crude oil futures were declining $0.17, or 0.27%, at $62.27.

The major European markets ended on a mixed note on Monday. Germany's DAX declined 0.26%, France's CAC 40 ended down 0.16% and the U.K.'s FTSE 100 edged up 0.07%, while Switzerland's SMI gained 0.36%. The pan European Stoxx 600 edged down 0.01%.

At 2 AM ET, the European Automobile Manufacturers Association is scheduled to issue Europe's new car registrations data for October.

Data on Swiss foreign trade is also due at 2 AM ET.

Later, at 4 AM ET, the European Central Bank will release the current account data. Economists expect the euro area current account surplus to fall to EUR 23.4 billion in September from EUR 25.7 billion in August.

Italy's industrial orders and sales data will also be out at 4 AM ET.

Eurozone construction output data for September, and the industrial trends survey results for the U.K. are due at 6 AM ET.

Finally, at 8 AM ET, Hungary's central bank will announce its rate decision.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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