- European stocks are expected to open slightly lower on Tuesday, continuing a more cautious approach seen globally at the start of the week.
- London's FTSE is seen opening 8 points lower at 7,128, Germany's DAX is seen 21 points lower at 15,740, France's CAC 40 down 7 points at 6,811 and Italy's FTSE MIB 19 points lower at 25,090, according to IG.
LONDON — European stocks are expected to open slightly lower on Tuesday, continuing a more cautious approach seen globally at the start of the week.
London's FTSE is seen opening 8 points lower at 7,128, Germany's DAX is seen 21 points lower at 15,740, France's CAC 40 down 7 points at 6,811 and Italy's FTSE MIB 19 points lower at 25,090, according to IG.
The somber start to the trading day in Europe reflects similar sentiment in Asia-Pacific overnight.
Shares in Asia-Pacific were mixed in Tuesday trade as South Korean game developer Krafton plunged in its debut, while worries over a widening Covid resurgence in China continued to weigh on sentiment as China reported more infections this week, and cities embarked on mass testing.
Stock picks and investing trends from CNBC Pro:
JPMorgan picks global 'growth bargains' from energy to tech
Fundstrat's Tom Lee expects an 'everything rally' when delta wave peaks
Fund manager highlights 3 ‘left behind’ stocks he's loving right now
20 strategists predict when stocks will have the next big tumble — and how far they'll fall
Worries about the impact of Covid on global growth continued to weigh on investor sentiment, with countries grappling with the spread of the highly transmissible delta variant of the virus.
U.S. stock futures were little changed on Monday night after the Dow Jones Industrial Average and S&P 500 fell from record highs in regular trading amid concerns about a resurgence in Covid-19 cases.
Energy stocks led the declines on Monday after oil prices fell 4% amid fears that a wave of Covid cases could lead to a demand slowdown. Recovery plays including Norwegian Cruise Line and United Airlines were down as well.
Investors will be looking out for the latest U.S. consumer price index and producer price index data, both of which measure inflation and are scheduled to come out Wednesday and Thursday, respectively.
European companies reporting earnings on Tuesday include HelloFresh, Munich Re, ABRDN and InterContinental Hotels Group and data releases in focus are Germany's ZEW survey of Economic Sentiment for August and British retail sales in July.
Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now
Source: Read Full Article