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European stocks seen slightly lower as Brexit takes center stage

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European stocks were expected to open slightly lower Wednesday as investors pause for guidance on the likelihood of an imminent Brexit deal between the U.K. and the EU.

Brexit negotiations continued into the early hours of Wednesday as U.K. Prime Minister Boris Johnson seeks to hammer out a deal with the bloc ahead of a meeting of European leaders this week.

British news outlets reported Tuesday night that the two parties were on the brink of a deal after the U.K. made concessions to EU demands over the Irish border. A draft deal could be published Wednesday if the details are finalized.which jumped 1.56% in early trade.China threatened countermeasuresEmbattled Hong Kong Chief Executive Carrie Lam on Wednesday ruled out yielding to the demands of pro-democracy protesters as violence escalates across the city.

On the data front, Italian industrial orders for August are due for publication at 9:00 a.m. London time, before U.K. consumer price index inflation figures for September at 9:30 a.m. and equivalent Italian inflation data at 10:00 a.m.

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