The European Stock futures were seen trading flat on Wednesday, as investors hopes that the US-Syrian conflict may be averted.
Futures of the Euro Stoxx 50 traded 0.11% lower at 2,849.50 at the time of writing, while the futures for the German DAX gained 0.01% to 8,460.30 at the same time, as the French CAC 40 futures advanced 0.01% to 4,114.30 and the UK FTSE 100 futures declined 0.12% lower to 6,592.50.
European Stocks – Syria Strike pushed back
On Tuesday, the US President Barack Obama asked Congress to push back the vote on whether the US military should intervene and take action against Syria, after Syria agreed to accept the Russian proposal to give up its chemical weapons.
“It’s hard to find a more market-friendly outcome from the developments and Russia, the US, Syria, Israel, and many other nations will be fairly content about the fact that ultimately key leaders are finding good middle ground,” chief market strategist at IG Chris Weston stated in a note.
European Market – Economic News
Germany’s consumer prices came in flat in August on a monthly basis, compared to the high 0.5% recorded in the previous month, while it advanced 1.5% year-on-year, according to reports from the Federal Statistical Office.
Meanwhile in France, the final non-farm payrolls declined 0.2% in the second quarter, compared to the 0.1% drop in the previous three month period, the French National Institute for statistical and Economic Studies reports confirmed.
The European Commission President Jose Manuel Barroso is expected to give a speech to the European Parliament about the state of European Union later in the day.
Asian Stocks
Asian shares were seen moving higher on Wednesday, driven by the gains in Japan on the higher earnings predictions for exporters caused by the softer yen. The positive sentiment in the world’s number two economy remains after the country posted an upbeat sales and industrial output data in the previous session.
Hong Kong’s Hang Seng index fell 0.30% lower to 22,908.12 points at the time of writing, while the Chinese benchmark Shanghai Composite gained 0.06% to 2,238.30.
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