European stocks set for higher open amid inflation data
- Of the major bourses, the U.K.'s FTSE 100 index is expected to open up around 18 points at 7,191.
- France's CAC 40 was seen 11 points higher at 6,830, while Germany's DAX was pointing 20 points higher at 15,935, according to IG.
LONDON — European markets are set to open slightly higher on Wednesday, as investors monitor inflation data and look ahead to the minutes from the Federal Reserve's latest meeting.
Of the major bourses, the U.K.'s FTSE 100 index is expected to open up around 18 points at 7,191, France's CAC 40 is seen 11 points higher at 6,830, while Germany's DAX is pointing 20 points higher at 15,935, according to IG.
Shares in Asia-Pacific were higher on Wednesday. The Reserve Bank of New Zealand kept interest rates unchanged despite expectations of a hike. The bank announced Wednesday that it would keep its monetary settings unchanged, leaving the official cash rate at 0.25%. Analysts had expected that New Zealand could be the first advanced economy in Asia-Pacific to raise interest rates in the pandemic era of easy monetary policy.
On Wall Street, Dow futures slipped slightly in overnight trading after the 30-stock average snapped a 5-day winning streak in the regular session.
The Federal Open Market Committee publishes its meeting minutes from its July meeting on Wednesday at 2 p.m. ET. Market participants will be looking for clues about the central bank's stance on inflation and when it could suspend its bond buying program.
Back in Europe, market participants are likely to closely monitor economic data. U.K. inflation rate data for July is scheduled at 7 a.m. London time, with euro area inflation rate figures for last month expected later in the session.
The ongoing coronavirus pandemic and spread of the highly transmissible delta Covid-19 variant has rattled market confidence. Investors are also monitoring the potential geopolitical implications following the Taliban's seizure of Kabul, the capital city of Afghanistan.
—CNBC's Eustance Huang and Maggie Fitzgerald contributed to this article.
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