European markets set for lackluster open with earnings and data in focus

Soegeefx AppsEU MarketEuropean markets set for lackluster open with earnings and data in focus

European stocks are set for a muted open on Tuesday as investors await key economic data and digest a slew of corporate earnings.

Britain’s FTSE 100 is seen around 8 points lower at 7,344, Germany’s DAX is set to slide by around 19 points to 16,130 and France’s CAC 40 is expected to drop around 6 points to 7,123, according to IG data.

Market in Asia-Pacific were mixed during Tuesday’s trade as investors monitored virtual talks between U.S. President Joe Biden and Chinese President Xi Jinping.

Stateside, stock futures were flat in overnight premarket deals as investors assessed a jump in yields, with inflation concerns continuing to weigh on global markets. Significant corporate earnings and economic data releases are expected later in the day.

Back in Europe, tensions are escalating over Russia’s alleged build-up of troops at the Ukrainian border, with NATO warning that it would be prepared to defend the sovereignty of Ukraine.

Meanwhile, a migrant crisis in Belarus’ border with Poland, Latvia and Lithuania has landed Minsk in the crosshairs of the European Union, with foreign ministers discussing a fresh round of sanctions against President Alexander Lukashenko and other entities.

On the data front, U.K. employment and wage figures for September are due before the opening bell on Tuesday. Euro zone third-quarter employment and GDP readings will be published mid-morning.

Corporate earnings in Europe come from Imperial Brands, Bouygues, Vodafone and Asda among others.

Bitcoin and other cryptocurrencies fell sharply on Tuesday, retreating from near record highs.

Source: CNBC

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