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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.
Anheuser-Busch InBev, the world’s biggest brewer, faced tough questions on Tuesday from U.S. lawmakers unhappy over its plan to buy SABMiller due to concerns the deal will hurt the fast-growing U.S. craft beer industry.
European and U.S. drug safety agencies are looking into whether a defective blood-clotting test device affected a trial involving Bayer’s anti-blood clotting drug Xarelto, they said on Tuesday.
Bouygues Telecom, France’s third-largest mobile telecoms network operator, wants more than 2 billion euros from the French government in compensation for alleged unfair competition following rival Iliad’s move into the mobile market in 2012, newspaper Les Echos said on Tuesday.
French businessman Xavier Niel holds options in Italian phone group Telecom Italia that can be settled for shares equal to a 10.2 percent stake, a filing with U.S. Securities and Exchange Commission showed on Tuesday.
French power generator Engie and a group of European utilities called on Tuesday for carbon pricing rather than targets for increasing renewable energy use to be the main tool for fighting climate change.
The group, which includes Germany’s , Italy’s Enel and Spain’s Iberdrola, wants the European Commission to strengthen its emissions trading scheme to boost carbon prices and investment in low-carbon power.
More than 500 civil lawsuits filed against Volkswagen AG over the use of software to evade emissions limits will be heard by a federal judge in California, a U.S. judicial panel responsible for consolidating related lawsuits said on Tuesday. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asian stocks slip as commodity rout feeds demand fears > US STOCKS-Wall St ends choppy session lower, weighed by China, oil > Nikkei falls to lowest close in more than a month > TREASURIES-Yields drift higher in tight ranges as oil steadies > FOREX-Commodity currencies nurse losses, euro inches higher > PRECIOUS-Gold adds to gains but looming U.S. rate hike weighs > METALS-Copper steady amid poor China data, export tax moves > Oil rises as U.S. crude inventories dip, Japan machinery orders bounce
Reporting by Sudip Kar-Gupta