The FTSE 100 is set to open 30 points lower at 7,432; while the DAX is expected to start up by 53 points at 13,113 and the CAC 40 is poised to open 19 points higher at 5,411.
In Asia, stocks were held back over Pyongyang’s latest missile test. North Korean state media confirmed Wednesday it had successfully launched a new type of intercontinental ballistic missile that it claimed was capable of reaching the U.S. mainland.
Meanwhile, market focus also turned to bitcoin after it surpassed $10,000 during Asian trade. The digital currency, which was valued at 6 cents seven years ago, has soared more than 20 percent since Friday.
Stateside, the prospects of a tax cut appeared to improve on Tuesday as Senate Republicans moved to set up a full vote as soon as Thursday. However, several details of the measure remain unsettled and Republican leaders have admitted they are yet to round up the votes needed for passage in the Senate.
Back in Europe, Britain and the European Union (EU) were reported to have reached a deal on a Brexit divorce bill on Tuesday. British newspapers said the final total would be approximately 50 billion euros ($59.2 billion). A deal over the bill would indicate London and Brussels are edging closer to a new phase in their negotiations.
On the data front, the euro area is due to report business and consumer confidence at around 10 a.m. London time on Wednesday. Elsewhere, the European Central Bank is expected to publish its Financial Stability Review.