The City of London skyline at sunset.
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LONDON — European stocks are expected to open in positive territory on Wednesday as global markets move higher.
The U.K.’s FTSE index is seen opening 0.11% higher, Germany’s DAX up 0.16%, France’s CAC 40 up 0.14% and Italy’s FTSE MIB 0.18% higher, according to data from IG.
The positive open eyed by regional markets comes after major U.S. indexes recovered in Tuesday’s trading session and Asia-Pacific markets rose broadly overnight — that follows some losses at the start of the week, .
Wall Street’s gains came on Tuesday as tech stocks such as Nvidia rose and bitcoin gained, a day after the flagship cryptocurrency logged its worst day since March.
Investors are gauging the possibility of a year-end rally, as December trading historically bodes well for U.S. stocks and because November was such a downbeat month as profit-taking trimmed valuations for some high-flying names.
German fashion brand Hugo Boss updated its guidance on Wednesday as it undertakes a strategic overhaul to “pave the way for profitable growth.” The company expects earnings before interest and taxes expected to hit between 300 million euros ($349 million) and 350 million euros in 2026 and expects sales to fall in the short term by rebound in 2027.
Traders stateside are also optimistic about corporate earnings results and are looking ahead to the Federal Reserve’s interest rate decision on Dec. 10.
Markets are pricing a roughly 89% chance of a cut during the upcoming meeting, which is much higher than the odds from mid-November, according to the CME FedWatch tool.
Earnings in Europe come from Inditex. On the data front, European purchasing managers’ index (PMI) data is due.
— CNBC’s Pia Singh contributed to this market report.
