European markets are set to open in negative territory Tuesday as regional investors look ahead to earnings reports from some of Europe’s largest companies this week.
The U.K.’s FTSE 100 index is expected to open 3 points lower at 8,620, Germany’s DAX down 47 points at 23,284, France’s CAC 24 points lower at 7,708 and Italy’s FTSE MIB 32 points lower at 37,836, according to data from IG.
Earnings are set to come from Vestas Wind, AXA, Uniper, Ferrari, Hugo Boss, Covestro, Zalando, Telenor, Geberit, Philips, Intesa Sanpaolo, Continental and Electronic Arts, among others on Tuesday.
European bourses had a mixed start to the week on Monday, with U.K. markets closed for a public holiday, and as investors prepared for earnings reports from major firms this week with Novo Nordisk, BMW, Maersk and Commerzbank among those reporting.
Central Banks across Europe will also be in focus. Sweden’s Riksbank, Norway’s Norges Bank and the Bank of England will announce interest rate decisions.
Global trade developments are also being closely watched by traders after U.S. Treasury Secretary Scott Bessent told CNBC Monday that the U.S. was “very close to some deals,” echoing comments from U.S. President Donald Trump a day earlier that there could be some agreements as early as this week.
Asia-Pacific markets mostly rose overnight as investors assessed those developments, while S&P 500 futures fell early Tuesday as investors awaited the start of the Federal Reserve’s first policy meeting since Trump announced “reciprocal” tariffs in early April.
Investors are keeping a close eye on the Fed’s announcement on rates Wednesday afternoon, although Fed funds futures trading suggests just a 3.1% chance of the central bank cutting rates. Traders will nevertheless be listening for Fed Chair Jerome Powell’s comments on the Fed’s economic outlook.
— CNBC’s Hakyung Kim contributed to this market summary
