European markets to open higher

Big 5

European bourses are expected to open on a positive footing on Wednesday as investors focus on earnings, monetary policy and a tax announcement in the U.S.

The FTSE 100 is set to open 0.8 points higher at 7,273, the DAX is seen 6 points higher at 12,476 and the CAC 40 is projected to open 8 points higher at 5,284.

Markets continue to benefit from the outcome of the first round of the French presidential election, which gave further confidence to investors on the stability of the euro zone. But their main focus should be on earnings with the London Stock Exchange, Standard Chartered, Fiat, Daimler, Peugeot and Tullow Oil among the companies reporting this Wednesday.

Credit Suisse announced a capital raise of about 4 billion Swiss francs ($4 billion), while ditching plans to float a minority stake in its Swiss banking unit. The Swiss bank reported a net profit of 596 million francs for the first quarter of 2017.

In terms of data, there will be consumer confidence figures coming in from France, the Netherlands and Sweden and an interest rate decision in Turkey. The European Central Bank is due to meet on Thursday, where analysts will be searching for a slight change in rhetoric.

In the U.S. President Donald Trump is expected to announce a proposal to cut corporate tax to 15 percent from 35 percent.

Source: CNBC

Comments
Loading...