{"id":134655,"date":"2023-09-12T17:39:16","date_gmt":"2023-09-12T17:39:16","guid":{"rendered":"https:\/\/finbestnews.com\/?p=134655"},"modified":"2023-09-12T17:39:16","modified_gmt":"2023-09-12T17:39:16","slug":"european-markets-seen-opening-lower","status":"publish","type":"post","link":"https:\/\/finbestnews.com\/business\/european-markets-seen-opening-lower\/","title":{"rendered":"European Markets Seen Opening Lower"},"content":{"rendered":"

Markets in Europe are expected to open on a negative note on Wednesday amidst worries about the global economy<\/span>, the rising crude oil prices and the economic health of the region. Data released just a while ago showed Factory Orders in Germany plunging 11.7 percent, versus an upwardly revised 7.6 percent increase in the previous month. Markets had anticipated a decline of 4 percent only. Trade and inflation data due from China later in the week also added to the anxiety.<\/p>\n

In other pending data releases due on Wednesday, U.K.’s S&P Global\/ CIPS Construction PMI in August is seen falling to 50.5 from 51.7 previously and Euro Area’s Retail Sales in July is seen declining 0.1 percent, versus a decline of 0.3 percent in the previous period. <\/p>\n

Wall Street had closed on a negative note on Tuesday, as weak PMI data from Europe and China triggered concerns about the health<\/span> of the global economy and dampened market sentiment. Nasdaq Composite shed 0.08 percent to close at 14,020.95 whereas the Dow Jones Industrial Average dropped 0.56 percent to finish trading at 34,641.97. <\/p>\n

A broadly negative sentiment prevailed at the European bourses as well on Tuesday amidst weak PMI data from the region. Switzerland’s SMI plunged 0.86 percent. France’s CAC 40 and Germany’s DAX, both slipped 0.34 percent. The pan-European Stoxx-50 dropped 0.23 percent whereas U.K.’s FTSE 100 erased 0.20 percent. <\/p>\n

Current indications from the European stock futures indicate an overwhelmingly negative sentiment. The FTSE 100 Futures (Sep) is trading 0.48 percent lower. The DAX Futures (Sep) is currently trading 0.29 percent lower. The CAC 40 Futures (Sep) is trading 0.46 percent lower. The pan-European Stoxx 50 Futures (Sep) has dropped 0.44 percent. The SMI Futures (Sep) has also declined 0.51 percent. <\/p>\n

American stock futures are trading weak. The US 30 (DJIA) is trading 0.05 percent lower, whereas the US500 (S&P 500) is trading 0.13 percent lower. <\/p>\n

Asian stock markets<\/span> are trading on a mixed note. Japan’s Nikkei 225 is trading 0.76 percent higher. China’s Shanghai Composite has gained 0.11 percent. Hong Kong’s Hang Seng has edged up 0.05 percent. India’s Nifty 50 is trading 0.06 percent below the flatline. New Zealand’s NZX 50 has slipped 0.35 percent. Australia’s S&P ASX 200 has dropped 0.76 percent. South Korea’s KOSPI has plunged 0.82 percent. <\/p>\n

The greenback edged lower after gains in successive sessions. The Dollar Index (DXY), a measure of the U.S. dollar’s strength relative to six currencies, has declined 0.12 percent to 104.68 versus the previous close of 104.81. The EUR\/USD pair has increased 0.15 percent to 1.0736 whereas the GBP\/USD pair has added 0.12 percent to trade at 1.2578. <\/p>\n

Amidst the dollar’s weakness, gold prices are firm above the flatline. Gold Futures for December settlement is trading at $1,952.95 per troy ounce, up 0.02 percent from the previous close of $1,952.60. <\/p>\n

Crude oil prices are trading a tad below the flatline after a surge on Tuesday following Saudi Arabia and Russia unexpectedly extending voluntary supply cuts to the end of the year. Brent Crude Futures for November settlement decreased 0.02 percent to $90.02 whereas WTI Crude Futures for October settlement dropped 0.03 percent to $86.66.<\/p>\n

Earnings updates due from the region on Wednesday include Swiss Life Holding, Clas Ohlson, Barratt Developments, Ashmore and Tod’s. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Markets in Europe are expected to open on a negative note on Wednesday amidst worries about the global economy, the rising crude oil prices and the economic health of the region. Data released just a while ago showed Factory Orders in Germany plunging 11.7 percent, versus an upwardly revised 7.6 percent increase in the previous month. 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