Europe poised for positive start as oil prices stabilize

Wednesday, 21. November 2018 08:55

Europe was set to start trading in the green on Wednesday, after prices of crude futures rebounded from yesterday's sharp losses exceeding 7%. On Wall Street yesterday, stocks surrendered gains from 2018 dragged down by tech selloff, most notably Apple's drop of over 5%. Investors' focus will be on the European Central Bank's non-monetary policy meeting as markets start trading, together with developments in relation to Brexit. A meeting between British Prime Minister Theresa May and the President of the European Commission Jean-Claude Juncker is scheduled for after markets close.

The DAX was set to add 0.80% at the start, while the FTSE 100 was poised to rise 0.48%. CAC 40 was expected to increase by 0.71%. Euro Stoxx 50 was seen 0.64% in the green.

The euro was up by 0.22% against the dollar to change hands for $1.13937 at 8:56 am CET.

West Texas Intermediate deliveries for January were trading 1.65% in the green at 8:57 am CET, going for $54.31 per barrel, while the International benchmark Brent grew by 1.36% to go for $63.43 at the same time.

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Breaking the News / NI