Business

European markets as January trading ends


LONDON – European stocks are expected to open higher on Monday, the last trading day of January, as investors keep an eye on political developments between Russia and Ukraine as well as oil prices.

UK FTSE The index is seen opening 46 points higher at 7,516, in Germany DAX up 168 points at 15,492, of France CAC 40 up 76 points at 7,073 and in Italy FTSE MIB up 280 points at 25,789, according to data from IG.

Higher-than-expected open rates in Europe come later Asia’s major indexes spike overnight with Nikkei 225 in Japan was up 1.47% in afternoon trade while the Topix index was up 1.19%. Markets in Hong Kong and Singapore closed early on Monday ahead of the Lunar New Year holiday.

Official data released on Sunday showed that China’s factory activity growth slowed in January. The country’s official Manufacturing Purchasing Managers’ Index for January came in at 50.1, just above 50, stalling growth and contracting. A private survey released over the weekend showed China’s manufacturing activity contracted in January.

Meanwhile, US futures are higher in overnight trading on Sunday As investors braced for the last trading day of what could be the worst month for the S&P 500 since March 2020. Markets were rattled by volatility in January as investors Investors worry about inflation, supply chain problems and an upcoming rate hike from the Federal Reserve.

Fed shown last week that it is likely to raise interest rates for the first time in more than three years to combat historically high inflation. The market is currently pricing in five rate hikes of 1/4 percentage point in 2022 with the first due in March.

Investors in Europe are watching developments between Russia and Ukraine with the United Nations Security Council meeting on Monday to discuss the ongoing tensions between the neighbors amid Russia reinforcement of troops on the border with Ukraine.

Income from Ryanair on Monday and release data including preliminary fourth-quarter GDP (gross domestic product) data for the euro area and preliminary inflation data for January from Spain and Germany.

Enjoyed this post?
For exclusive stock options, investment ideas, and CNBC’s global live stream
Registration for CNBC Pro
Your start Try it for free now

– CNBC’s Maggie Fitzgerald and Eustance Huang contributed to this market report.



Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button