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European markets set for mixed open as investors digest major earnings, await Fed decision

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European markets are set for a muted open on Wednesday amid a busy day for key corporate earnings, while investors await a key policy announcement from the Fed.

for the second quarter, despite its all-important investment banking arm suffering a slide in revenues. The German lender reported a net income of 692 million euros , smashing through analyst estimates of 328 million euros, according to data collected by Refinitiv.

The impact of Covid-19 continues to cloud the market outlook in Europe. The U.K. on Tuesday reported its highest death toll from the virus since March despite falling cases, prompting Prime Minister Boris Johnson to urge caution. In corporate news, Reuters reported Tuesday that a consortium led by German carmaker Volkswagen is in advanced talks to buy French car rental company Europcar for around 2.5 billion euros.

On the data front, Italian business and consumer confidence surveys for July are due later on Wednesday morning.

 

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