European stocks are seen opening mixed on Wednesday, tracking a lackluster session on Wall Street overnight. However, data showing a surprise rise in Chinese imports for February may boost miners. On the economic front, investors await industrial production data from the U.K. and France along with consumer price inflation figures from Germany.
After a subdued start, most Asian stocks rose modestly Wednesday as surging Chinese exports pointed to a pickup in international trade. Chinese exports soared nearly 46% in February from a year earlier, the Chinese customs agency reported, beating analyst forecasts of 35-40 percent growth. However, China's Shanghai average fell by about 0.70% on concerns the government may step up its tightening measures.
Oil prices held mostly unchanged below $82 a barrel ahead of a closely watched inventory report, while the dollar traded sideways against the yen and the euro.
On Wall Street, stocks gave up most of their early gains and ended just modestly higher on Tuesday, as a lack of first-tier economic data and light trading volume limited movement in the equity markets. All the major averages closed in positive territory, setting fresh highs on the one-year anniversary of the historic March lows. The Dow ended higher by 0.11%, the Nasdaq rose 0.36% and the S&P 500 edged up 0.17%.
In domestic corporate news, Anheuser-Busch InBev NV, the world's largest brewer, may buy the remaining 50% of Corona-maker Grupo Modelo this year for around $10.8 billion, reports said citing a broker report from Evolution Securities.
Faurecia said that One Equity Partners and Lee Gardner sold a 4.8% stake in the French car-parts maker.
Moody's Investors Service upgraded Safilo SpA's corporate family rating and its probability of default rating to CAA1 with a positive outlook.
Electricity consumption in Italy rose 2.1 percent in February from a year earlier, national grid operator Terna SpA said.
The European markets closed unchanged on Tuesday, as weakness in banking stocks and wider-than-estimated loss at EADS offset gains in defensive food and pharmaceutical stocks.
The FTSEurofirst 300 index of pan-European blue chips closed 0.08% lower, while the narrower DJ Stoxx 50 index rose 0.09%. Around Europe, the U.K.'s FTSE 100 index fell 0.08%, but France's CAC 40 index rose 0.17% and Germany's DAX index ended up 0.17%.
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