European Factors to Watch-Shares seen back up slightly after sell-off

miércoles 9 de diciembre de 2015 03:06 GYT
 

(Adds futures prices, company news items)

LONDON Dec 9 (Reuters) - European stocks were seen opening slightly higher on Wednesday after a sharp fall in the previous session, helped by a slight stabilisation in oil prices.

Futures on the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE were all up by between 0.1-0.2 percent.

Oil prices rose on Wednesday as U.S. crude stocks dipped, while Japan posted rising machinery orders, lending the market support amid an ongoing supply glut that could see the market run out of onshore crude storage sites in the first quarter of 2016.

The pan-European FTSEurofirst 300 index fell 1.8 percent to 1,437.77 points on Tuesday, its lowest close since late October, with the STOXX Europe 600 Basic Resources sector dropping 6.6 percent to its lowest level since March 2009 as mining stocks slumped.

Metal and oil prices have been hit by concerns about a slowdown in China, the world's biggest consumer of metals.

Data on Wednesday showed that China's consumer inflation picked up slightly in November but remained well under the government's 2015 price target of 3 percent, raising concerns that the world's no. 2 economy could be sucked into a Japan-style deflationary trap.

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