European Shares to Open Mixed; Irish Fears Persist
European shares were set to open mixed Wednesday as worries over the debt situation in the euro zone persist and fears of monetary tightening in China because of the danger of inflation increased.
Wall Street closed lower as the dollar was stronger, while Asian shares were mainly down.
Stocks closed lower on Tuesday on concerns about Ireland’s debt crisis and on renewed talk of China further tightening monetary policy.
Finance ministers from euro zone states held monthly talks on Tuesday evening and agreed to set up a joint European Union - International Monetary Fund mission to Ireland that could prepare a bailout in case it proves necessary.
Ministers from other EU states join them on Wednesday for further discussion.
The Bank of England will release the minutes of the meeting held by its Monetary Policy Committee on 3 and 4 November and could show concern among some members about inflation and growth.
Also on the agenda is the BoE’s Agents’ Summary of Business Conditions, which provides information on the state of business conditions from firms across all sectors of the economy.
Macroeconomic data in focus on Wednesday includes UK October unemployment figures and final numbers for Spain’s third-quarter GDP.
Air France/KLM reports half-year earnings after the market close.