European Shares Likely To Drift Lower With Earnings In Focus

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(RTTNews) - European stocks may drift lower at open on Wednesday as the focus now turns to upcoming earnings from TSMC and Morgan Stanley.
Investors also await a European Central Bank policy meeting on Thursday, with analysts expecting a 25-bps rate cut.
Consumer and producer price inflation data are due from the U.K., later in the day, headlining a light day for the European economic news.
Asian stocks were mostly lower as enthusiasm around Chinese stimulus faded, and reports suggested that the U.S. was planning to impose a limit on the sale of AI chips to select countries.
Japan's Nikkei was down nearly 2 percent after a Bank of Japan policymaker called for 'very moderate' pace of rate hikes.
The yen stabilized around 149 per dollar in response to BoJ member Seiji Adachi's latest comments and data showing that Japan's core machinery orders fell more than expected in August.
The euro held around two-month lows after former U.S. President Donald Trump defended proposals to dramatically raise tariffs on foreign imports.
Gold ticked higher despite Atlanta Federal Reserve President Raphael Bostic projecting just one more 25 basis points interest-rate cut this year.
Oil edged up slightly after falling by more than 4 percent on Tuesday due to easing supply worries and concerns over weakening demand.
Israel said it would consider the "opinions" of the United States but will ultimately act against an Iranian missile attack according to its own "national interests".
U.S. stocks closed lower overnight as United Health lowered its full-year earnings outlook and data showed business activity at manufacturing firms in New York State contracted unexpectedly in October.
A disappointing outlook from ASML Holding and concerns about tighter U.S. restrictions on chip sales spurred a selloff in the tech sector while energy stocks tracked oil prices lower.
The tech-heavy Nasdaq Composite lost 1 percent, while the Dow and the S&P 500 both shed around 0.8 percent.
European stocks fell on Tuesday amid sharp losses in the technology and energy sectors.
The pan-European STOXX 600 dipped 0.8 percent. The German DAX slipped 0.1 percent, France's CAC 40 gave up 1.1 percent and the U.K.'s FTSE 100 declined half a percent.

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