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European stocks are poised for a slight increase amid mixed market sentiment, following Nvidia's disappointing earnings forecast that impacted Asian semiconductor stocks. Meanwhile, shares of India's Adani Group plummeted after its chairman faced federal bribery charges, with significant losses across its companies. Concerns over stretched market valuations and inflation persist, as Federal Reserve officials express caution regarding economic stability.
European markets are set to open higher as traders monitor escalating tensions in the Ukraine-Russia conflict. The U.K.’s FTSE 100 is expected to rise 4 points, while Germany’s DAX, France’s CAC, and Italy’s FTSE MIB are projected to gain 46, 23, and 118 points, respectively. Key earnings reports from Severn Trent and British Land, along with U.K. inflation data, are also on the agenda.
UBS anticipates dividend cuts for water utilities following Ofwat's upcoming price regime decision on December 19. While a £125-135 annual bill increase is expected, Pennon Group is projected to report its weakest first-half results, with an EBIT of £83 million and a 25% dividend cut. United Utilities and Severn Trent are forecasted to perform better, with underlying EBITs of £326 million and £299 million, respectively.

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