European Markets Seen Opening Mildly Positive On Wednesday

(RTTNews) - Equity markets in Europe are expected to open on a positive note on Wednesday amidst waning risk aversion. German consumer morale falling below forecasts is however seen limiting gains. Markets also look forward to the earnings update from NVIDIA, the political situation in Europe as well as French labor market data for trading direction.

Wall Street had closed on a mildly positive note on Tuesday supported by gains in chip giant Nvidia. The Dow Jones Industrial Average added 0.30 percent to finish trading at 45,418.07. The Nasdaq Composite also rallied 0.44 percent to close trading at 21,544.27.

European markets had however closed on a negative note on Tuesday amidst the political turmoil in France. France's CAC 40 plunged 1.7 percent. The pan-European Stoxx-50 lost 1.1 percent. Germany's DAX lost 0.50 percent. Switzerland's SMI slipped 0.36 percent whereas U.K.'s FTSE 100 closed with losses of 0.60 percent.

Current indications from the European stock futures indicate a mildly positive sentiment. The CAC 40 Futures (Sep) has increased 0.09 percent. The pan-European Stoxx 50 Futures (Sep) has gained 0.08 percent. The SMI Futures (Sep) has also added 0.06 percent on Wednesday. The DAX Futures (Sep) is trading 0.02 percent higher. The FTSE 100 Futures (Sep) has however slipped 0.08 percent.

American stock futures are trading slightly above the flatline. The US 30 (DJIA) is trading 0.03 percent higher, whereas the US500 (S&P 500) is trading 0.05 percent above the flatline.

Asian stock markets are trading on a mixed note.

The Dollar Index, a measure of the U.S. dollar's strength relative to six currencies, is trading 0.19 percent higher at 98.43. Gold and Crude oil prices are trading with mild overnight losses.

The EUR/USD pair has in the meanwhile declined 0.21 percent to 1.1617 whereas the GBP/USD pair has dropped 0.16 percent to trade at 1.3461.

Major data updates due from the region include Economic Sentiment Index for August from Switzerland, data on Unemployment Benefit Claims and Jobseekers for July from France as well as the CBI Distributive trades report for August from U.K.