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LONDON – European stocks are expected to open in mixed territory on Wednesday as investors digest global market moves, particularly a pullback in the US market on Tuesday.
London’s FTSE is expected to open 13 more points to 6,833, Germany’s DAX down 22 points to 15,201, France’s CAC 40 down 8 points to 6125 and Italy’s FTSE MIB down from 45 points to 24,448, according to IG.
European markets face some uncertainty on Wednesday as investors digest the moves in US markets and the latest international growth forecast from the International Monetary Fund.
Major US averages retreated from Tuesday’s records to end the session in the red despite strong economic data – including the March jobs report which beat expectations – which fueled the rise in equities over the years. last sessions. The top three US averages are emerging from their fourth consecutive quarter of gains as the economic recovery from Covid-19 accelerates.
Markets are also digesting the IMF’s decision to raise its growth outlook for the world economy for 2021 to 6%, from 5.5% in January.
He said “a way out of this health and economic crisis is increasingly visible.” However, he warned of “daunting challenges” given the varied pace of vaccine deployments around the world.
Asia-Pacific markets advanced on Wednesday as major indexes from Australia, Japan and South Korea posted gains.
There are no major results released Wednesday; On the data side, final Eurozone PMI composite data is released, Italian retail sales for February are expected, as well as inflation data for the Netherlands for March.
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