STOXX 600 down 0.2%
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Eyes on U.S. CPI data
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Bitcoin attempts to steady
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Wall Street futures edge up
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STOXX DIPS (0852 GMT)
European shares kicked off the day just below parity as some well-received earnings releases helped offset angst ahead U.S. inflation numbers later on Thursday and turmoil in crypto world after the implosion of exchange FTX.
The pan-European STOXX 600 equity benchmark was last down 0.2%. Heavyweight London-listed drugmaker AstraZeneca rose 1% after cancer drug sales help it beat quarterly expectations and raised its full-year guidance.
Top gainers following results were takeaway food company Delivery Hero, brakes maker Knorr Bremse, utility Centrica and medical technology firm Convatec which rose between 5 and 11%.
The highly leveraged real estate sector was under pressure ahead of U.S. inflation data that could set the speed of future Fed rate hikes, and following disappointing results from German property group Leg Immobilien.
EUROPE HEADS SOUTH (0745 GMT)
Shares in Europe are heading for a lower open as investors remain nervous ahead of U.S CPI data that could help set expectations for the pace of future interest rate hikes by the Federal Reserve.
Crypto markets have attempted to stabilise, sending bitcoin up more than 6% after erasing more than one quarter of its value in the past three sessions, which could offer some support.
Investors however still fear spillover effects after crypto exchange Biance pulled out of a deal to bail out FTX.
So while EuroSTOXX 50 futures fell 0.6% and Asian shares tumbled overnight, U.S. equity futures managed to hold in positive territory after a sharp drop on Wednesday.
Earnings in Europe, meanwhile, continued to flow and could help limit losses. Traders called for gains in AstraZeneca, Domino's Pizza, WH Smith and Qinetiq following quarterly updates.
RED WAVE (0705 GMT)
The outcome of the U.S. midterm elections remains inconclusive - short of the Republican sweep some had expected.
The "red wave", however, showed up in markets. The S&P 500 fell 2% on Wednesday and the dollar seemed to catch a bid from a wave of cryptocurrency selling. Bonds rallied with the risk-averse mood, which opens the door for disappointment as U.S. inflation data comes into focus later on Thursday.
Economists expect the annual headline rate to fall to 8.0%, the lowest since February, and Fed funds futures imply the market is close to evenly split on whether the Fed hikes by 50 basis points or 75 bps in December.
Signs of stickiness could push pricing for a peak in rates of around 5% to something a bit higher and put a floor under the greenback.
Share markets fell around Asia, with MSCI's broadest ex-Japan index down 1%. European futures fell 0.6%.
Traders also have a keen eye on the unfolding disaster at crypto exchange FTX.
Bigger rival Binance has walked away from a bailout after due diligence, and as an executive at another rival, OKX, put it, there is a "dagger" over the market until the total damage is clear.
Key developments that could influence markets on Thursday:
U.S. CPI, ECB's Isabel Schnabel and Fed's Lorie Logan speak
Earnings: Zurich Insurance, RWE, Aegon , Delivery Hero, ArcelorMittal, Continental