LONDON — European stocks are expected to slide at the open on Wednesday as global sentiment remains volatile and investors monitor the economic outlook.
The U.K.’s FTSE index is seen opening 51 points lower at 7,276, Germany’s DAX 87 points lower at 13,141, France’s CAC 40 down 47 points at 6,039 and Italy’s FTSE MIB 132 points lower at 21,806, according to data from IG.
The lower open anticipated for European markets comes amid declines elsewhere overnight. In Asia-Pacific markets, Hong Kong shares led losses on Wednesday, with stocks there taking the negative lead from Wall Street. U.S. stock futures were flat early on Wednesday after the major averages made a failed attempt at a bounce in the previous session.
Asia-Pacific markets had been buoyed Tuesday after China’s decision to halve the Covid quarantine period to seven days, with a further three days spent at home, which gave markets a signal that Beijing is relaxing its strict approach to eradicating Covid-19.