How Are European Markets Doing Today?

Wall Street advanced on Tuesday as the coronavirus stimulus deal got closer. U.S. futures are higher in Wednesday's early trade, with the Dow gaining 0.11% and the S&P 500 futures inching higher by 0.12% at publication time.

European shares are bucking the positive trend in the U.S. and Asia by falling for the third straight day. A slew of mixed economic data across Europe, rising coronavirus cases, and comments made by the European Central Bank's (ECB) members on Tuesday are weighing on the markets.

Euro Stoxx 50 benchmark is trading sharply lower by 0.81% at press time. ECB President Christine Lagarde spoke about the downside economic risk due to rising coronavirus cases on Tuesday. Investors will be watching the comments by various ECB members on Wednesday, hoping for a stimulus.

London's FTSE 100 has fallen 1.2% in early trade, led by declines in stocks across most sectors. The Consumer Price Index for Britain grew 0.4% month-over-month in September, missing the consensus of 0.5% growth. Sterling Pound's strength against the Euro and the dollar are weighing on shares.

The United Kindom's PPI output for September declined 0.1% month-over-month against an expected 0.1% growth. The public sector net borrowing rose sharply to £35.37 billion, missing the consensus of £32.40 billion. The Retail Price Index grew 0.3% month-over-month, missing the consensus of 0.4% growth. Investors will be watching Bank of England Deputy Governor David Ramsden's speech due late Wednesday.

Germany's DAX is down by 1.05% at press time, led by a fall in media, technology, retail, and healthcare stocks.

France's CAC 40 index has shed 1.16% on the last check, dragged lower by energy and healthcare shares, partially offset by gains in financials and technology shares. There are no major economic events scheduled in France for Wednesday.

Spain's IBEX index is trading 0.47% lower, led by material and technology stocks. There are no major economic events scheduled in the country for Wednesday.

Forex Trading: U.S. Dollar Index futures have shed 0.32% to 92.763. The dollar has weakened 0.28% against the Euro at $1.1854 and a sharp 0.79% against the Sterling to $1.3048.

Currency ETFs To Watch: Invesco CurrencyShares Euro Trust ETF FXEInvesco CurrencyShares British Pound Sterling Trust ETF FXB, and Invesco DB USD Bullish ETF UUP

Posted In: british poundCAC-40DAX indexeuroeuropean marketsglobal marketsIbex 35UK FTSE 100NewsEurozoneFuturesForexGlobalMarkets

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