European markets seen higher as Britain prepares to pull Brexit trigger

European markets are expected to open in positive territory Wednesday as investors look to London and Brussels and the start of Britain’s much-anticipated Brexit proceedings.

The FTSE 100 is seen 19 points higher at 7,360; the German DAX is set to start up by 15 points at 12,173; and the French CAC 40 is also expected to open up 15 points at 5,059.

The dollar rose during Asian trading as investors recovered from the disappointment of President Donald Trump’s failed health-care bill meanwhile sterling took a battering as the British government sent a letter to Brussels formally starting the country’s exit from the European Union.

The letter will be delivered midday Wednesday to European Council President Donald Tusk in Brussels and will officially trigger the Brexit proceedings.

Meanwhile British Prime Minister Theresa May will address the House of Commons at the same time.

Elsewhere in Europe, German Chancellor Angela Merkel is set to meet with Germany’s Council of Economic Experts to assess the country’s on-going economic development.

Source: CNBC