European stocks are expected to open lower on Monday as global markets struggle to gain positive momentum and to recover from last week’s volatility.
The U.K.’s FTSE index is seen opening 29 points lower at 7,393, Germany’s DAX 52 points lower at 13,973, France’s CAC 40 down 29 points at 6,325 and Italy’s FTSE MIB 120 points lower at 23,588, according to data from IG.
European stocks are expected to open lower on Monday as global markets struggle to gain positive momentum and to recover from last week’s volatility.
The U.K.’s FTSE index is seen opening 29 points lower at 7,393, Germany’s DAX 52 points lower at 13,973, France’s CAC 40 down 29 points at 6,325 and Italy’s FTSE MIB 120 points lower at 23,588, according to data from IG.
The lower open for European stocks comes after a tumultuous week for global markets last week, although European stocks advanced on Friday, looking to regain some ground with investors assessing the outlook for inflation and interest rates.
Overnight, other global markets struggled to build positive sentiment as the new trading week begins. U.S. stock futures fell Sunday evening ahead of a big earnings week for retailers. Shares in Asia-Pacific markets gave up early gains on Monday, after China reported disappointing economic numbers as a result of Covid restrictions.
Market participants in Europe will be keeping a close eye on geopolitical developments in the region over the next few days, particularly after Finland announced Sunday that it will apply to join the military alliance NATO. It will be a historic move for the Nordic country, which has had a decades-long policy of military neutrality until now.
Joining the military alliance will “maximize” Finland’s security after Russia’s unprecedented invasion of Ukraine in February, President Sauli Niinisto said Sunday. Russia warned last week that it would take “retaliatory steps” if Finland joins NATO, but Moscow did not specify what these could be.
Earnings come from Ryanair on Monday and euro area trade balance data for March are due.
Source: CNBC
