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Euro STOXX 50 little changed
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EUROPE EYES MUTED START (0738 GMT)
Stock index futures are pointing to a muted start in Europe this morning, recovering from an overnight drop after U.S. President Joe Biden said a missile that killed two people in Poland was probably not fired from Russia.
Euro STOXX 50 futures were last trading just above parity, while FTSE 100 futures inched 0.1% higher even as data showed UK inflation rose to a new 41-year high of 11.1% in October.
Trading in Asia was shaken by the missile blast in Poland, while U.S. futures were last edging slightly higher, adding to gains on Tuesday that were fuelled be benign inflation data.
In corporate news, early calls pointed to gains for aerospace contractor Senior and grocer Premier Foods following results. French train maker Alstom is also seen rising after cash flow and orders beat forecasts.
Siemens Energy scrapped its dividend after its net loss widened because of turmoil at its wind turbine division. Cruise operator Carnival is set for a difficult day after a $1 billion convertible bond offering whose proceeds will help it make principal payments on debt.
A MISSILE AND A MANIFESTO (0658 GMT)
U.S President Joe Biden said a missile that killed two people in Poland may not have been fired from Russia. That comment will be relief to a market rattled at the prospect of the war in Ukraine spilling over to neighbouring countries, but investor's nerves are frayed and they remain on guard.
A volatile round of trading overnight due to the explosion on Tuesday at a grain facility near the Ukrainian border has continued into Asian hours, with equities lower, the dollar on the front foot and gold prices hovering around a three-month peak.
Meanwhile, Donald Trump launched a bid to regain the presidency in 2024, a move that was widely expected and telegraphed. "Two years ago, we were a great nation and soon we will be a great nation again," he said in a speech that lasted little more than an hour. With the elections a couple of years away, markets didn't seem to care.
Britain is due on Wednesday to release inflation data for October that is expected to show consumer prices up 10.7% on a year earlier. The data will come just a day ahead of Finance minister Jeremy Hunt's autumn budget, which is expected to contain a raft of measures, including tax rises and spending cuts.
In the crypto world, the FTX saga rumbles on, with bankruptcy filings showing the collapsed exchange may have more than 1 million creditors. Meanwhile, the Wall Street Journal reported that lender BlockFi was planning layoffs and a possible bankruptcy filing.
Key developments that could influence markets on Wednesday:
Economic events: CPI data from Britain and Italy
Speakers: ECB board member Frank Elderson, Edouard Fernandez-Bollo, BoE governor Andrew Bailey to be questioned by parliaments' Treasury committee
