Shares in Europe seen slightly higher as Turkey crisis weighs on sentiment

Shares in Europe are expected to start Wednesday’s trading a touch higher as concerns over the Turkish currency crisis continue to affect investors’ appetite.

The FTSE 100 is seen opening up by 5 points at 7,628; the DAX 30 is expected to start higher by 11 points at 12,373; and the CAC 40 is seen mildly lower by 2 points at 5,404; according to IG.

The session in Asian trading was mostly lower, failing to follow the positive beat on the Wall Street. Investors remain wary of potential economic spill overs from Turkey, where a spat with the United States and certain economic policies have led to a sharp fall in the value of its currency. The lira was down about two percent against the dollar and the euro at about 6.20 a.m. London time.

In other news, China has argued that the solar tariffs introduced by the United States on Beijing earlier this year violate trade rules and has issued a complaint at the World Trade Organization.

Meanwhile, in the corporate world, Royal Bank of Scotland has announced that it will pay $4.9 billion to settle a U.S. investigation into misconduct between 2005 and 2008. Air France-KLM is to appoint Air Canada’s chief operating officer Benjamin Smith as its new boss on Thursday, according to local newspaper Liberation.

On the earnings front, Vestas Wind and Balfour Beatty are due to announce their latest results.

In the U.K., there will be core inflation numbers out at 9.30 a.m. London time.

Source: CNBC

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