European stocks are seen opening slightly higher today after a series of six consecutive sessions of losses. In today’s futures market, Germany’s DAX added 0.4 percent to last point to a 10716.8 open, France’s CAC 40 is also seen opening 0.5 percent higher while U.K.’s FTSE 100 is expected to gain as much as 0.5 percent to open at 6947.0. Euro Stoxx 50 is expected to add 0.5 percent to open at 3067.0, as futures trading indicated at 7:50 GMT.
Oil prices edged higher f on Tuesday after OPEC agreed on a long-term strategy which was seen as an indication that the cartel could reach an agreement to tackle oversupply. The gains were very modest however, as the market was weighed down by a stronger dollar and further indications of record output. The dollar rallied in the final days of the contentious U.S. presidential campaign to last trade at 104.91JPY.
In today’s oil markets Crude oil futures added 0.15 percent to last trade at $46.92 while Brent oil futures added 0.6 percent to last trade at $48.88, well below the previous $50 margin as of 7:45 GMT.
Chinese markets rallied after stronger than expected PMI surveys boosted investor sentiment. Indicatively, China A added 0.6 percent to close at 9911.61 while Hang Seng added 1.3 percent to last trade at 23229.00 as of 7:40 GMT. Japan’s Nikkei also added 0.1 percent to close at 17442.40 while Australia’s S&P/ASX 200 lost 0.5 percent to close at 5290.47. South Korea’s KOSPI traded flat while India’s Nifty added 0.3 percent to last trade at 8654.90 as of 7:42 GMT.