European equities are expected to open higher Wednesday despite rising geopolitical tensions between Russia and NATO member Turkey.
On Tuesday, European markets closed sharply lower after news that Turkey shot down a Russian warplane on the Syrian border. An unnamed U.S. official told Reuters that the U.S. believed that the plane had been hit inside Syrian airspace. President Vladimir Putin called the downing "a stab in the back," and warned it would have serious consequences for the Turkey.
In Asia overnight, fresh geopolitical fears over Turkey and Russia sent most equities lower, although oil prices and some energy plays saw gains.
British finance minister George Osborne is due to present his spending review. Elsewhere Tuesday, Bank of England governor Mark Carney has said that U.K. interest rates are likely to remain low "for some time."
Earnings are due from Thomas Cook group. 11:30 UK BBA Mortgage Approvals with forecast: 45.5K.
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