Europe heads for positive open ahead of U.S. inflation
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EUROPE HEADS FOR POSITIVE OPEN AHEAD OF U.S. INFLATION
European stocks are heading for a positive start to Wednesday, as traders brace for a key U.S. inflation reading later this week and keep a keen eye on the Japanese yen.
EuroSTOXX50 STXEc1 futures are adding 0.76%, while FTSE futures FFIc1 are up 0.32% and DAX futures FDXc1 are ticking 0.71% higher.
A three-session sell-off in Nvidia NVDA.O came to an end on Tuesday, as shares surged nearly 7%.
Eyes will be on German automaker Volkswagen Group VOWG_p.DE at the open after it said it will invest up to $5 billion in U.S. electric-vehicle maker Rivian RIVN.O as part of a new joint venture. The news sent shares in the latter soaring in extended trade on Tuesday, as well as in Frankfurt trading this morning.
Elsewhere, Liontrust Asset Management LIO.L reported a 23% drop in annual profit on Wednesday and net outflows of 6.1 billion pounds ($7.74 billion) as investor sentiment remained challenging.
British online consumer electrical retailer's AO World's AO.L annual profit beat forecasts on Wednesday.
Zurich Insurance ZURN.S on Wednesday announced a $600 million deal to buy AIG's AIG.N global personal travel insurance and assistance business.
(Lucy Raitano)
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