European markets set to open lower; investors eye Fed decision, UK GDP, earnings

Markets in Europe are expected to start the day marginally lower as investors wait to hear from the U.S. Federal Reserve and continue to digest earnings reports.

The FTSE 100 is seen 4.5 points lower at 7,434, the CAC 40 is set to open off by 3 points at 5,161 and the DAX in Germany is seen lower by 13.3 points at 12,255.

U.S. markets hit new highs on Tuesday on earnings reports. This kept the dollar steady as the Federal Reserve is due to announce its latest rate decision at 7 p.m. London time. Market participants do not foresee any change in rates at this point but will be carefully monitoring remarks from Fed Chair Janet Yellen.

Until then, investors will be looking at fresh corporate earnings. Daimler is due to report its latest figures following reports of a European probe into the sector on alleged collusion.

France’s Peugeot is also due to report alongside LVMH, Bankia, Syngenta, Fresnillo and Tullow Oil.

In terms of data, the U.K. will see preliminary second-quarter growth figures at 9.30 a.m. London time. Source: CNBC