European stocks are seen opening little changed on Tuesday, tracking mixed Asian cues as investors wait to hear what Fed Chairman Ben Bernanke will say on Wednesday when be briefs the media following the conclusion of the Fed's two-day policy meeting.
Bernanke may indicate that any reduction in the so-called quantitative-easing program will be data-driven and that slowing the pace of bond purchases over the next few months won't represent a tightening of monetary policy. Besides an update on economic projections for 2013-2015, traders will be looking for hints on the Fed's timetable for economic stimulus.
Asian stocks are turning in a mixed performance as traders moved to the sidelines awaiting the outcome of the FOMC meeting starting later today.
Japan's Nikkei index is down 0.2 percent, snapping a two-day rally, after official data showed Japan's industrial production grew less than previously estimated in April. Industrial output rose 0.9 percent in April from the previous month, revised down from a 1.7 percent growth reported in the preliminary report, reflecting a change in the base year. On an annual basis, output fell 3.4 percent in April.
Closer home, European Commission President Jose Barroso said in a press conference on the sidelines of G8 Summit in Lough Erne that the teams of the European Commission and the United States will formally launch negotiations over a trans-Atlantic EU-U.S. trade deal next month. Barroso stated that the scheduled meeting will "be the start of a joint undertaking of real strategic importance."
U.K. inflation data as well as a report on German economic sentiment are due to be released later in the European session. British inflation is forecast to rise 2.6 percent annually in May following a 2.4 percent gain in April, while the ZEW Institute's economic sentiment indicator for Germany is expected to rise to 38.1 in June from 36.4 in the previous month.
Across the Atlantic, reports on consumer prices and housing starts may attract some attention later in the day, although traders may be reluctant to make any significant moves ahead of the FOMC meeting.
In domestic corporate news, private equity firm Apollo Global Management LLC has made a takeover bid for mining giant Rio Tinto Plc's Canadian iron-ore operations, the Bloomberg reported, citing a person familiar with the situation.
Germany's largest cable operator Kabel Deutschland Holding AG confirmed that it has received a preliminary proposal from U.S. media group Liberty Global Plc.
Industrial conglomerate Siemens AG announced that it will close its solar power unit after seven months of intensive negotiations with potential buyers failed to result in a deal.
European stocks gained ground on Monday as traders looked ahead to the Federal Reserve's upcoming policy meeting with an eye over the G-8 summit in Northern Ireland where trade, taxes and transparency are on the agenda. The U.K.'s FTSE 100 posted a modest 0.4 percent gain, while the benchmark indexes in Germany, Switzerland and France closed up between 1.1 percent and 1.5 percent.
U.S. stocks ended well off their day's highs overnight, as lingering worries about the Federal Reserve's future policy tempered investor optimism over upbeat data on regional manufacturing activity and confidence among homebuilders. The Dow rose 0.7 percent, while the tech-heavy Nasdaq and the S&P 500 added about 0.8 percent each.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.