Europe Shares Seen Mixed; Credit Suisse Profit Misses
European stocks were set for a mixed open Wednesday, with Germany’s Dax indicated to open higher, while London’s FTSE and the Paris Cac-40 were on course for a slightly lower open.
European shares rose for the fourth straight session and hit a two-week closing high on Tuesday, boosted by corporate results in both the United States and Europe, including those of Swiss bank UBS and Credit Suisse.
Credit Suisse's profit missed expectations, hit by a charge on debt. Credit Suisse said its Tier 1 ratio, a measure of how well capitalized banks are, was 18.2 percent in the first quarter.
In macroeconomic news, investors will look out for a first estimate for UK gross domestic product for the first quarter on Wednesday.
Euro zone industrial orders for February are also due, as is French consumer confidence for April and a provisional figure for German inflation in April.
Later in the day, all eyes will be on the Federal Reserve Chairman Ben Bernanke who holds his first ever post-rate setting meeting press conference and is widely expected to signal an end to the current loose monetary policy.