European markets head for mixed open as global data continues to cause concern

Soegeefx AppsEU MarketEuropean markets head for mixed open as global data continues to cause concern

Holly Ellyatt

European markets are heading for a mixed open Wednesday as investors continue to assess inflation, interest rates and the health of the global economy.

Asia-Pacific markets were mixed overnight as investors digested China’s industrial data and Australia’s inflation figures. U.S. stock futures traded near the flatline Tuesday night. 

All three major U.S. indexes saw a sell-off Tuesday after the latest home sales and consumer confidence reports missed expectations, stoking concern over the state of the U.S. economy.

CNBC Pro: This cutting-edge British chip designer’s shares are set to soar over 100%, says Jefferies

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The investment bank believes the company is designing chips for American Big Tech firms, which is expected to increase its profit margins.

The chip stock is also seen as “one of the key potential beneficiaries” of the growing trend in artificial intelligence applications.

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CNBC Pro: Forget India: One portfolio manager bucks the trend, says another market offers ‘great value’

India’s growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he’s steering clear.

“We are probably in the minority in here [and] we don’t mind being in the minority,” Dimmich from North of South Capital told CNBC Pro Talks last week.

Instead, he revealed an emerging market he says offers “great value,” with two of his favorite stocks.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to open in mixed territory Wednesday.

The U.K.’s FTSE 100 index is expected to open 15 points lower at 7,613, Germany’s DAX down 17 points at 15,234, France’s CAC up 1 point at 7,072 and Italy’s FTSE MIB down 34 points at 28,072, according to data from IG. 

Data releases include Russian industrial output, unemployment and retail sales for August, French consumer confidence figures for September and Swedish consumer confidence for the same month.

— Holly Ellyatt

Source : cnbc

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