European stocks are expected to open lower on Wednesday ahead of a raft of European earnings. Earnings are in the spotlight in Europe on Wednesday with first quarter numbers due from Anheuser-Busch InBev, Moller-Maersk, AXA, Societe Generale, Air France-KLM, Allianz, Siemens, Adidas, Continental, Sainsbury and Royal Dutch Shell.
Markets in the region looked set to follow the negative lead from Asia where markets traded lower overnight. Asian markets mostly lower, ASX down 1.1%, BHP down 8%, Shanghai down 0.2%. Helping to weigh oil and other commodities, the U.S. dollar advanced. A stronger greenback pressures commodity prices, which are denominated in dollars.
Volatility in global financial markets since the beginning of the year has led to a negative revaluation of the expected return to almost all asset classes. Investments decreased in all major Western European markets.
Today ahead: 09:45 - French Trade Balance (Mar) with expectations: -4.4B; 10:50 - French Services PMI (Apr) with expectation: 50.8; 10:55 - German Services PMI (Apr) with expectation: 54.6; Euro area Services PMI (Apr) with expectation: 53.2; 12:00 - Euro area Retail Sales (MoM) (Mar) with expectations: -0.1%.
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