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FUTURES SLIP ON ECONOMY FEARS, STOXX RESULTS OFFER SUPPORT (0640 GMT)
European futures are pointing to a start of the day in the red for stocks across the region impacted by disappointing earnings results in the U.S. amid fears of an economic slowdown in the U.S.
European futures are down between 0.1% and 0.4%, while U.S. futures are falling between 1% and 2% after Google-owner Alphabet posted on Tuesday softer-than-expected ad sales and Microsoft missed expected revenue forecasts.
In Europe, a batch of better-than-expected earnings is offering some support: Mercedes-Benz tripled pre-pandemic Q3 cars earnings and raised its outlook, Reckitt's quarterly sales were boosted by price rises, while Barclays reported its third quarter profit rose slightly from the previous year, beating market expectations.
Investors are also watching how aggressively will central banks raise rates. Traders and economists predict a 75 basis point (bps) increase from the ECB on Thursday. The U.S. Fed is also expected to raise by the same amount next Wednesday.
In England, eyes are on politics. Domestic focused stocks recovered on Tuesday after Rishi Sunak became Britain's third prime minister in two months and pledged to lead the country out of a profound economic crisis and rebuild trust in politics.