LIVE MARKETS-Before the bell: Europe eyes firmer start, tech looks shaky

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BEFORE THE BELL: EUROPE EYES FIRMER START, TECH LOOKS SHAKY

European shares were set for a firmer start on Wednesday ahead of US inflation data that could help shape expectations about whether the Fed will raise rates again this year, while tech could remain under pressure even after ASML's ASML.AS sales forecast topped expectations.

Shares in the world's largest supplier of chipmaking equipment were indicated around 1% lower after gains in South Korean tech heavyweights Samsung Electronics 005930.KS and SK Hynix 000660.KS faded, with their initial rebound running out of steam.

Nasdaq futures were little changed. Euro STOXX 50 .STOXX50E, DAX .GDAXI and FTSE .FTSE futures rose around 0.3%. Brent crude added 0.5% to trade above $106 a barrel, while benchmark 10-year U.S. Treasury yields edged lower in Asian trading as investors sought safety.

Investors will also be watching earnings from BlackRock, Morgan Stanley and Bank of America on Wednesday, after a weak start to the US bank earnings season a day earlier.

Ahead of US CPI data expected to show headline inflation accelerated to 3.6% in September as higher energy prices offset softer underlying pressures, markets are pricing a 21.6% chance of a Fed rate hike next month, according to CME's FedWatch tool.

In European dealmaking, Galderma GALD.S agreed to buy U.S. skincare company ZO Skin Health for an enterprise value of $1.5 billion. Proxy adviser ISS urged Monte dei Paschi BMPS.MI shareholders to reject the bank's proposed acquisitions of Banco BPM BAMI.MI and Banca Generali BGN.MI.

(Danilo Masoni)

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