European markets open higher as choppy trend continues ahead of elections

Soegeefx AppsEU MarketEuropean markets open higher as choppy trend continues ahead of elections

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Jenni Reid & Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks opened higher Wednesday, as sentiment remains on edge ahead of two major elections.

After a negative performance last week, the Stoxx 600 has been choppy so far in July. The index was 0.4% higher in early deals, with most sectors in the green led by mining stocks, up 1.6%.


.FTSE FTSE 100 8156.87 35.67 0.44
.GDAXI DAX 18269.71 105.65 0.58
.FCHI CAC 40 Index 7603.26 64.97 0.86
.FTMIB FTSE MIB 33822.57 341.17 1.02
.IBEX IBEX 35 Idx 10985.7 72.9 0.67

Investors are bracing themselves for two national parliamentary elections, with the U.K. heading to the polls on Thursday followed by France on Sunday. Surveys suggest a victory for the U.K.’s opposition center-left Labour Party, an outcome analysts say would be looked on favorably by markets; while the French vote is mired in greater uncertainty.

Regional markets closed lower Tuesday, after digesting the latest consumer price data from the euro zone which showed headline inflation in the euro area dipped to 2.5% in June, in line with the expectations of economists polled by Reuters.

However, the closely watched figures for core and services inflation remained stubbornly high, holding at 2.9% and 4.1%, respectively.

Asia-Pacific markets mostly rose overnight, after U.S. Federal Reserve Chair Jerome Powell noted there was progress on reining in inflation, while investors also assessed a slew of data from the region. U.S. stock futures traded near the flatline Tuesday night.

There are no major earnings or data releases in Europe Wednesday.

Source : cnbc

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