LIVE MARKETS-STOXX dips but selloff slows, eyes turn to Trump in Davos

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STOXX DIPS BUT SELLOFF SLOWS, EYES TURN TO TRUMP IN DAVOS

The STOXX 600 .STOXX is a touch lower on Wednesday, but the heavy selling pressure from earlier in the week has eased slightly ahead of Trump's Davos visit.

The pan-European benchmark is down 0.1%, after falling 1.9% during the first two days of this week. The region's banks .SX7P are the biggest sectoral decliners.

It's not all bad though. Miners .SXPP are rising as the surge in gold XAU= and silver XAG= extends again, while copper price HGc2 are also up. Rio Tinto RIO.L shares are also jumping after quarterly iron ore and copper production beat estimates.

That's helping keep the FTSE 100 .FTSE just in positive territory.

Luxury stocks .STXLUXP are also doing okay, helped by a 5% rise in Burberry BRBY.L shares after its sales over the key holiday period were ahead of expectations.

Attention was now turning to the Swiss alpine town of Davos, where U.S. President Trump is due to land, with Greenland likely to be high on the agenda.

Equity bulls will be hoping for Trump to dial down his rhetoric on both Greenland and the threat of tariffs on European allies, but that outcome looks slim for now.

Here's your opening snapshot:

(Samuel Indyk)

EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: FUTURES STEADY, SELLOFF SET TO EASE CLICK HERE

MARKETS CLING TO HOPES OF A DAVOS DE-ESCALATION CLICK HERE