{"id":117788,"date":"2021-07-07T05:33:24","date_gmt":"2021-07-07T05:33:24","guid":{"rendered":"https:\/\/fin2me.com\/?p=117788"},"modified":"2021-07-07T05:33:24","modified_gmt":"2021-07-07T05:33:24","slug":"european-markets-head-for-slightly-higher-open-amid-mixed-global-sentiment","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/european-markets-head-for-slightly-higher-open-amid-mixed-global-sentiment\/","title":{"rendered":"European markets head for slightly higher open amid mixed global sentiment"},"content":{"rendered":"
LONDON \u2014 European stocks are expected to open slightly higher on Wednesday, reflecting a more cautious and uncertain tone among global markets.<\/p>\n
London's FTSE is seen opening 7 points higher at 7,102, Germany's DAX 16 points higher at 15,512, France's CAC 40\u00a0up 10 points at 6,503 and Italy's FTSE MIB down 4 points at 25,110, according to IG.<\/p>\n
The more cautious open expected in Europe reflects mixed sentiment elsewhere overnight; shares in Asia-Pacific were mixed in Wednesday trade following losses on Wall Street, with the S&P 500 ending its seven-day winning streak in the previous session.<\/p>\n
Investors may be worried the economy might be approaching its peak and that a correction could be on the way. In addition to complacency in the market, the combination of profit-margin pressures, inflation fears, Fed tapering and possible higher taxes could contribute to an eventual drawdown, market strategists say.<\/p>\n
In the U.S. on Tuesday, recovery-centered stocks like\u00a0Caterpillar,\u00a0Chevron\u00a0and\u00a0JPMorgan Chase\u00a0pulled back while Big Tech stocks like\u00a0Amazon,\u00a0Apple\u00a0and\u00a0Alphabet\u00a0gained. Energy stocks took a hit after West Texas Intermediate crude futures hit their highest level in more than six years before turning negative.<\/p>\n
Oil prices were mildly higher on Wednesday afternoon in Asia following the plunge Tuesday, with international benchmark\u00a0Brent crude futures\u00a0marginally higher at $74.55 per barrel.\u00a0U.S. crude futures\u00a0advanced 0.12% to $73.46 per barrel.<\/p>\n
Volatility in the oil market follows an\u00a0indefinite postponement of talks between OPEC and its oil-producing allies\u00a0after the group failed to reach an agreement on its output policy for August and beyond.<\/p>\n
On the data front, Russia releases inflation data for June and France releases trade data for May. There are no major earnings releases Wednesday.<\/p>\n
Enjoyed this article? – CNBC's Tanaya Macheel contributed reporting to this story.<\/em><\/p>\n
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