LIVE MARKETS-Europe before the bell: eyeing another soft open
EFA•Stocks to watch at the open
Before then, it'll be worth watching Zara owner Inditex ITX.MC at the open. It reported a better-than-expected start to its autumn trading on Wednesday, with currency-adjusted sales up 9% in August, but traders are calling the shares down a couple of percent at the open, after it missed on EBIT (earnings before interest and tax).
As well, Amgen AMGN.O and AstraZeneca AZN.L said a combined drug trial had some positive news, and it will be worth watching airlines, especially those in Britain, after a technical issue disrupted hundreds of flights at key airports.
European futures point lower as gas prices rise
Futures are pointing to a softer open for European shares on Wednesday, which is not surprising, with natural gas prices up another 3% on the day and up nearly 9% since the end of last week as fighting in the Middle East intensifies.
Futures on the Euro STOXX 50 blue chip index are down 0.5% STXEc1 with national index futures down a similar amount.
Those early declines may not hold, based on the pattern of the first two days of the week that has seen early falls followed by a bounce-back and stabilisation.
Clearly, any news from the Gulf could shift things, and also later in the day, the new limits for Treasury buyback operations land. Last month, the Treasury flagged a doubling of the buyback size to $4 billion, and Secretary Scott Bessent said it could exceed that.
A larger-than-expected buyback would likely weigh on the dollar and reinforce the cap on long-end yields.
