(RTTNews) - After a mixed session yesterday, European stocks may open on a cautious note Wednesday, tracking subdued Asian cues, weakening commodity prices and lower U.S. stock futures.

After Tuesday’s disappointing consumer confidence report from the U.S., investors await economic data on durable goods and housing sales for signs of recovery in the world’s largest economy.

The Asian markets showed further weakness on Wednesday, with participants indulging in some heavy selling following a mixed close on Wall Street overnight. With a slew of earnings and economic reports due for release during the course of this week, investors trimmed their long positions fearing further correction in stock prices.

On Wall Street, stocks moved in a choppy fashion on Tuesday, as data showed U. S. consumer confidence deteriorated in October, indicating restrained consumer spending. The Dow edged up 0.14%, while the tech-heavy Nasdaq fell by 1.23%. and the S&P 500 slipped 0.33%.

However, crude oil prices closed higher on Tuesday after the S&P/Case-Shiller home- price index showed that home prices climbed in August, bolstering optimism about an economic rebound in the world’s largest economy. Light sweet crude for December ended at $79.55, up 87 cents on the session.

In Asian trading on Wednesday, crude oil slipped to near $79 a barrel ahead of weekly oil inventory data from the U.S. Energy Administration scheduled to be released later in the day.

In corporate news, Rio Tinto Plc confirmed that it has completed the second tranche of its private placement investment in Ivanhoe Mines, increasing its ownership by 9.8% to 19.7% of Ivanhoe’s common shares.

Military body-armor maker Ceradyne, Inc. reported a drop in third-quarter profit on lower revenues as its gross margin and number of new orders took a hit.

Household cleaning products maker Reckitt Benckiser Group Plc reported an increase in profit for the third quarter, reflecting higher revenues and improved margins.

Total System Services, Inc. reported a lower profit for the third quarter, as revenues slid 1.6% from last year, impacted by lower revenues from the company’s electronic payment processing services.

Swiss eye care products company Alcon Inc. reported a lower profit for the third quarter ended September, but raised its full year 2009 earnings forecast.

Deutsche Bank AG is set to buy the Luxembourg-based private bank Sal. Oppenheim for about 1 billion euros, the Bloomberg reported citing sources familiar with the matter.

MorphoSys AG reported net profit on IFRS basis of EUR 2.6 million for the third quarter of 2009, compared to EUR 5.5 million during the same period of 2008.

The European markets closed on a mixed note Tuesday despite heavy falls across Asia as earnings from BP and Vestas Wind Systems beat analyst estimates.

The FTSEurofirst 300 index of pan-European blue chips closed 0.38% higher, while the narrower DJ Stoxx 50 index rose 0.70%. Around Europe, the U.K.’s FTSE 100 index rose 0.18%, but France’s CAC 40 index declined 0.01% and Germany’s DAX index fell 0.13%.

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Posted in Categories: Eurozone, Releases, Stocks, Switzerland, USA.

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