Europe seen almost flat ahead of OPEC meeting

11/30, 8:09 AM (Source: TeleTrader.com)

Markets in Europe are expected to open almost flat on Wednesday as investors anticipate the Organization of the Petroleum Exporting Countries (OPEC) meeting and hope major oil producers will reach a deal on an output freeze.

The DAX was seen 0.01% in the green, the CAC 40 was set to open 0.07% higher, the FTSE 100 futures pointed to an increase of 0.09% and the Euro Stoxx 50 futures indicated the index would inch up 0.03%.

Crude prices rose 2% on hopes OPEC will agree on an output cut at its meeting in Vienna. WTI for January climbed 1.75% to go for $46.08, while Brent crude jumped 2.22% to sell for $47.37 at 7:58 a.m. CET.

Teletrader Newsroom / NP