FX.co ★ European Markets Seen Opening Lower

European stock markets are poised to open lower on Thursday, following losses in Asian markets and prevailing weak sentiment from Wall Street, largely due to geopolitical concerns. Wall Street concluded Wednesday with mixed results, with the Nasdaq Composite dipping 0.11% to close at 18,966.14, while the Dow Jones Industrial Average rose by 0.32% to end at 43,408.47. These fluctuations occurred amid anticipation over NVIDIA's earnings report and ongoing geopolitical tensions.

On Wednesday, European markets largely experienced downturns as renewed conflicts between Russia and Ukraine troubled investors. Additionally, mixed earnings reports and higher-than-expected inflation data in the U.K. pressured markets. France's CAC 40 declined by 0.43%, while the pan-European Stoxx-50 fell by 0.42%. Germany's DAX dropped by 0.29%, and the U.K.'s FTSE 100 slipped by 0.17%. Switzerland's SMI marginally decreased by 0.02%.

Presently, European stock futures suggest a negative market outlook. The DAX Futures (Dec) have decreased by 0.17%, CAC 40 Futures (Dec) have declined by 0.41%, and FTSE 100 Futures (Dec) have fallen by 0.06%. The pan-European Stoxx 50 Futures (Dec) edged down by 0.15%, though SMI Futures (Dec) concluded Wednesday with a 0.44% gain.

U.S. stock futures are also trading negatively as investors process NVIDIA’s much-anticipated earnings results. Currently, the US 30 (DJIA) is down by 0.03%, and the US500 (S&P 500) shows a decline of 0.23%.

In Asia, stock markets are mostly trending downward. Japan's Nikkei 225 index has lost 0.95%, India's Nifty 50 has declined 0.74%, and China's Shanghai Composite has dropped by 0.48%. Hong Kong's Hang Seng index has decreased by 0.42%, while Australia's S&P ASX 200 is marginally down by 0.04%. Conversely, DJ New Zealand has seen a rise of 0.32% and South Korea's KOSPI has increased by 0.21%.

The Dollar Index, which measures the U.S. dollar against six major currencies, shows signs of weakness despite Wednesday’s rebound. It fell to 106.58 from 106.68 on Wednesday and 106.21 on Tuesday. The EUR/USD pair inched up by 0.08% to 1.0551, while the GBP/USD pair advanced by 0.04% to 1.2655.

Gold prices have extended gains, buoyed by safe-haven demand. Gold Futures for December are up by 0.41%, trading at $2,662.65, compared to the previous close of $2,651.70.

Crude oil prices are slightly above the flatline amid persistent geopolitical concerns. Brent Crude Futures for January increased by 0.25% to $72.99, and WTI Crude Futures for January rose by 0.29% to trade at $68.95.

Data releases expected in the region on Thursday include France’s Business Confidence for November, France's CBI Industrial Trends Orders for November, the Euro Area’s Consumer Confidence Flash for November, and the U.K.’s GfK Consumer Confidence for November.

Significant earnings updates anticipated from the region include reports from Halma, International Distribution Services, Jet2, Mitie Group, Ithaca Energy, and CMC Markets.