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European markets open to close, data, earnings


LONDON – European stocks are set to open cautiously higher on Monday after gains were seen last Friday, although Italy’s main index is said to open in the negative territory. amid political instability.

UK FTSE The index is seen opening 12 points higher at 7,129, of Germany DAX 12 points higher at 12,881, of France CAC 40 up 11 points at 6,051 and of Italy FTSE MIB Down 51 points at 20,799, according to data from IG.

That comes amid a more buoyant global sentiment. In Asia – Pacific Market on Monday, Hong Kong’s Hang Seng rose more than 2%, while US stock index futures slightly higher early Monday morning after finishing the week positively last week.

Friday’s relief rally comes as traders bet the Federal Reserve will be less drastic at its upcoming meeting. The The Wall Street Journal Sunday reported that the central bank was on track to raise interest rates by 75 basis points at its meeting later this month, rather than the larger, full-scale increase some analysts had forecast.

Recession fears have dominated trading sentiment in recent weeks as market participants fear that aggressive action from the Fed – in an attempt to rein in decades-high inflation – will ultimately push the economy into a recession. economy into recession.

Last week, new inflation data showed a spike in consumer prices 9.1% in Junea hotter-than-expected read and the biggest gain since 1981. That led traders to bet that the Fed could raise rates by one percentage point at its meeting in late July.

Select stocks and investment trends from CNBC Pro:

Shares of Haleon are expected to begin trading on the Main Market of the London Stock Exchange as an independent, listed company, after GSK shareholders approved the business classification. its consumer health care industry.

No key earnings or data released on Monday.

– Pippa Stevens of CNBC contributed to this report.



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