German import prices unexpectedly contract in April
A container ship at the Port of Hamburg in Germany.
Maria Feck/Bloomberg via Getty Images
German import prices fell by 0.4% year on year in April, figures from the Federal Statistical Office showed on Wednesday.
Analysts had been expecting an annual rise of 0.2%, according to LSEG data.
The previous month had seen import prices rise by 2.1% in Germany.
— Chloe Taylor
Here’s what to expect today
The La Defence business district in Paris, France.
Bloomberg | Bloomberg | Getty Images
Investors can expect a swathe of economic data out of Europe on Wednesday, including German import prices, final French gross domestic product figures, French and German employment data, and an update on Turkish economic confidence.
Global investors will also be awaiting minutes from the U.S. Federal Reserve’s May meeting, which are due later on Wednesday.
There are no major corporate earnings expected out of Europe on Wednesday, but investors on both sides of the Atlantic will be monitoring U.S. chipmaking giant Nvidia’s earnings when they’re released after Wall Street’s closing bell.
— Chloe Taylor
What’s happening outside of Europe?
Stocks listed in the Asia-Pacific region were in mixed territory on Wednesday, with the Japanese Nikkei 225 last seen trading 0.3% higher, while South Korea’s Kospi added 1.8%. Australia’s S&P/ASX 200 shed 0.2% after the country posted a higher-than-expected rise in inflation, while Hong Kong’s Hang Seng was down 0.4%.
On Wall Street, stock futures were flat ahead of Wednesday’s trading session. It follows broad gains on Tuesday, as investors reacted to U.S. President Donald Trump pausing 50% tariffs on the European Union when markets reopened from the Memorial Day holiday.
— Chloe Taylor, Lee Ying Shan
Opening calls
Good morning from London. It’s just over 90 minutes until European equity markets open, after which stocks look set to trade in mixed territory.
Futures tied to the German DAX index are currently down 0.2% and FTSE 100 futures are marginally lower. French CAC 40 futures are bucking the trend with a 0.2% rise.
— Chloe Taylor