LONDON – European markets were slightly higher Wednesday morning as investors monitor economic data and corporate profits.
The pan-European Stoxx 600 fell 0.1% above the flat line during the first business, with household items gaining 0.8%, while telecommunications fell 0.6%.
Shares in Europe are forecast for a slightly positive hangover from Asia-Pacific, where Chinese technology stocks listed on Hong Kong bounced back on Wednesday after 12 large companies indicated compliance with antitrust laws.
In the United States, futures tied to major indices changed little in early pre-market trading after the S&P 500 closed at a new record. State investors will be looking for some major profit launches on Wednesday, with the presentation of banking giants JPMorgan, Goldman Sachs and Wells Fargo.
U.S. health authorities on Tuesday recommended stopping the distribution of Johnson & Johnson’s Covid-19 vaccine after six women under the age of 50 developed rare blood clots after inoculation. Johnson & Johnson announced that it would delay the implementation of the vaccine in Europe, while South Africa also suspended its use.
Back in Europe, Credit Suisse on Tuesday told investors that its $ 2.3 billion loan was exposed to ongoing uncertainties over the supply chain financing firm Greensill Capital.
Hawkish Bank of England chief economist Andy Haldane will step down from his various roles with the central bank after the June Monetary Policy Committee meeting, the Bank announced on Tuesday.
In terms of earnings, French luxury goods group LVMH saw a sharp rise in first-quarter earnings after Tuesday’s bell, bolstered by Chinese and US demand for handbags and Louis Dior products Vuitton.
German software giant SAP slightly raised its revenue forecast for 2021 on Tuesday after first-quarter earnings showed strong gains in cloud sales, while compatriot plastics company Covestro also raised its forecasts of profits after improving margins.
The British supermarket chain Tesco recorded a 14.7% drop in annual profit before the bell, although sales remained strong.
Meanwhile, budget airline EasyJet said it expects a pre-tax first-half tax loss of between £ 690 million ($ 950.6 million) and £ 730 million.
In terms of data, the industrial production figures for the euro area in February are due at 10 am London time.
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