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European stocks set to open lower amid earnings; Deutsche Bank beats estimates

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European markets were set to open lower Wednesday after a slew of earnings both in the U.S. and in Europe.

Deutsche Bank on Wednesday reported a third-quarter net profit of 1.031 billion euros , slightly beating expectations despite an 8% fall on the previous year and ongoing struggles in the lender's investment unit.

Earnings are also due from Heineken, AkzoNobel, Lloyds Banking Group and Carrefour. In the U.S. last night, shares of Microsoft jumped after stronger-than-expected results in the fiscal first quarter. Meanwhile, Alphabet shares tumbled as its cloud business missed analysts' estimates.were mixed as investors in the region assessed Australia's third-quarter inflation figures.

Shares of chipmaker Nvidia fell sharply earlier this month after the U.S. government announced new restrictions on exporting advanced artificial intelligence chips to China.

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