European Shares Set To Open On Tepid Note

By RTTNews Staff Writer   ✉   | Published:

European stocks are seen opening slightly lower on Wednesday as investors wait for the final result of Brexit talks.

As time for the U.K. and EU to reach a deal runs short, differences on fisheries remain difficult to bridge.

The two sides are giving negotiations 'a final push', the EU's chief negotiator, Michel Barnier, said.

Meanwhile, the World Health Organization said late on Tuesday that more than 4.6 million newly confirmed novel coronavirus cases were registered worldwide in the past week, a record weekly count since the start of the pandemic.

Between December 14 and 20, the majority of those cases were registered in North and South America, while Europe accounted for the majority of fatalities.

Asian stocks are gaining ground in light trading ahead of the Christmas & New Year holidays.

U.S. stock futures edged lower after U.S. President Donald Trump suggested he won't sign the nearly $900bn stimulus bill that passed both the Republican-controlled Senate and the Democrat-held House into law unless Congress makes changes including increasing stimulus checks to $2,000.

On the other hand, U.S. President-elect Joe Biden is starting to lay out a blueprint for another pandemic aid package when he takes office.

The dollar held gains against peers, while oil prices fell on data showing U.S. crude oil stocks rose last week.

Import price figures from Germany and producer price data from France are due later in the session, headlining a light day for the European economic news.

Across the Atlantic, reports on weekly jobless claims, durable goods orders, personal income and spending, new home sales and consumer sentiment may attract attention.

U.S. stocks ended mixed overnight as concerns around a fast-spreading new coronavirus strain offset U.S. stimulus boost. On the economic front, revised GDP data as well as housing and consumer confidence figures painted a mixed picture of the economy.

The tech-heavy Nasdaq Composite rose half a percent, while the Dow Jones Industrial Average shed 0.7 percent and the S&P 500 eased 0.2 percent.

European stocks closed on a buoyant note Tuesday amid U.S. stimulus news and optimism over European regulatory approval for the coronavirus vaccine developed by BioNTech and Pfizer.

The pan European Stoxx 600 gained 1.2 percent. The German DAX rallied 1.3 percent, France's CAC 40 index climbed 1.4 percent and the U.K.'s FTSE 100 rose 0.6 percent.

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