Eurpoean futures point to tepid start
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EUROPEAN FUTURES POINT TO TEPID START
European futures are pointing to a marginally positive open, but the mood remains tense amid developments in the Middle East.
STOXX futures STXEc1 are up 0.2% as are FTSE futures .FFIC1, while DAX futures .FDXc1 are up 0.1%. It follows declines of about 1% on Tuesday for the STOXX 600.
Eyes will be on oil stocks, which yesterday surged 1.3% in line with rising crude prices. Oil is today adding 1.4%.
European auto stocks are also likely to be a closely watched area today given the dockworkers strike at U.S. East Coast and Gulf Coast ports.
Nike's Frankfurt-listed shares fell over 6% in early trading after it withdrew its annual revenue forecast on Tuesday. The sportswear giant's peers' shares will be in the spotlight at the open.
In better news, sports fashion retailer JD Sports .JD.L has reported half-year results, beating a consensus forecast for first-half profit.
British holiday group Saga SAGA.L said on Wednesday that it is in talks with Belgium-based insurer Ageas AGES.BR for a potential partnership for its insurance business.
Spain's BBVA BBVA.MC on Tuesday has adjusted its takeover offer for Sabadell SABE.MC to take into account interim dividend payments by both lenders to shareholders.
(Lucy Raitano)
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