European Stocks Seen Gaining On Wednesday

(RTTNews) - Stock markets in Europe are expected to open on an emphatically positive note on Wednesday. Optimism over a potential U.S.-Iran peace deal signaled by President Donald Trump, that has lifted market sentiment globally is expected to be reflected in the European markets also. Markets are also expected to cheer the announcements regarding U.S. pausing Project Freedom and ending of combat operation against Iran.

Wall Street had closed on an emphatically positive note on Tuesday amidst a de-escalation in tensions in the Middle East and strong corporate results. The tech-heavy Nasdaq Composite surged 1.03 percent to close trading at 25,326.13. The S&P 500 rallied 0.81 percent to finish trading at a record high of 7,259.22. The Dow Jones Industrial Average also added 0.73 percent to finish trading at 49,298.25.

Major European markets had finished trading on a mostly positive note on Tuesday. The pan-European Stoxx-50 surged 1.83 percent to finish trading at 5,868.95. Germany's DAX rallied 1.7 percent to end Tuesday's trading at 24,401.70. France's CAC 40 strengthened 1.1 percent to close at 8,062.31. Switzerland's SMI also recorded an increase of 0.38 percent to close trading at 13,052.17. U.K.'s FTSE 100 however declined 1.40 percent to finish trading at 10,219.11.

Current indications from the European stock futures indicate a strong positive sentiment. The FTSE 100 Futures (Jun) is trading 1.2 percent higher. The pan-European Stoxx 50 Futures (Jun) is trading 0.97 percent higher. The CAC 40 Futures (May) is also trading 0.97 percent higher. The DAX Futures (Jun) is trading 0.86 percent higher. The SMI Futures (June) is trading 0.66 percent higher.

American stock futures are trading in mildly positive territory. The US 30 (DJIA) is trading 0.18 percent higher, whereas the US500 (S&P 500) is trading 0.34 percent above the flatline. Asian stock markets are trading on an overwhelmingly positive note, buoyed by the easing tensions in the Middle East and a renewed momentum in an AI-led tech rally. South Korea's KOSPI has surged 6.26 percent. China's Shanghai Composite has jumped 1.25 percent. Australia's S&P ASX 200 has rallied more than a percent. Hong Kong's Hang Seng has added almost a percent whereas DJ New Zealand has gained 0.72 percent. India's Nifty 50 is trading 0.44 percent above the flatline. Equity markets in Japan are closed for a holiday.

Amidst growing optimism about a U.S.-Iran deal, the greenback has retreated. The Dollar Index, a measure of the U.S. dollar's strength relative to six currencies, is currently trading at 98.09, shedding 0.36 percent from 98.44 at the previous close. The EUR/USD pair has jumped 0.33 percent to trade at 1.1732 whereas the GBP/USD pair has rallied 0.21 percent to trade at 1.3587. The USD/CHF pair has slipped 0.29 percent to trade at 0.7803. The EUR/GBP pair is trading 0.08 percent higher at 0.8636. With the yen strengthening, the EUR/JPY pair has plunged 0.60 percent to 183.42 and the GBP/JPY pair has tumbled 0.65 percent to 212.42.

A weaker dollar and signs of de-escalation in the Middle East conflict have boosted prices of the yellow metal. Gold futures for June settlement have jumped more than 2 percent from the previous closing level of $4,568.50. It is currently trading at $4,660.20.

Both the crude oil benchmarks have retreated amidst President Trump announcing a halt to Project Freedom and Secretary of State Marco Rubio announcing an end to the combat operation against Iran. Brent Crude Futures for July settlement is trading at $108.04, around 1.7 percent lower than $109.87 at the previous close. WTI Crude Futures for June settlement is currently at $100.35, more than 1.8 percent lower than $102.27 at the previous close.

Among economic data releases, industrial production data for March are due from France.

Major updates to earnings due from the region on Wednesday include Novo Nordisk, Oersted, Lundin Mining Corp, UniCredit, Marriott International, Jyske Bank, etc.