Europe seen almost flat ahead of OPEC meeting
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.