- European stocks are expected to open flat to higher on Monday as global investors weigh a rise in coronavirus cases, largely attributed to the spread of a variant that emerged in India.
- London's FTSE is seen opening 4 points higher at 7,048, Germany's DAX down 2 points at 15,410 and France's CAC 40 up 20 points at 6,396, according to IG.
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LONDON — European stocks are expected to open flat to higher on Monday as global investors weigh concerns over a rise in inflation and an increase in coronavirus cases, largely attributed to the spread of a variant that emerged in India.
London's FTSE is seen opening 4 points higher at 7,048, Germany's DAX down 2 points at 15,410 and France's CAC 40 up 20 points at 6,396, according to IG.
European markets look set for a shaky start to the trading week, following lackluster sentiment elsewhere. U.S. stock futures slipped in overnight trading on Sunday following last week's sell-off triggered by inflation jitters.
Data last week showed the Consumer Price Index jumped 4.2% from a year earlier in April, the fastest rate since 2008, which intensified fears that the Federal Reserve could be forced to start tapering its easy monetary policy if higher price pressures are sustained.
The Fed's minutes from its last meeting, which will be released Wednesday, could offer some clues on policymakers' thinking on inflation.
Overnight Sunday, futures on the Dow Jones Industrial Average fell 102 points. S&P 500 futures and Nasdaq 100 futures both also traded in negative territory.
Bitcoin will also be in focus for investors after the cryptocurrency's price dropped below $44,000, trading at $43,329.62 as of 11:53 pm ET Sunday, according to data from Coin Metrics. That came after Tesla CEO Elon Musk implied in a Twitter exchange Sunday that the electric vehicle maker may have dumped its bitcoin holdings. Last week, Tesla decided to halt bitcoin for car purchases due to environmental concerns.
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Coronavirus remains a key concern for investors as economies reopen. The U.K. is easing lockdown further on Monday with pubs and restaurants set to reopen to customers for in-dining. Museums and cinemas are also allowed to reopen. U.K. Prime Minister Boris Johnson has called for a cautious approach to the unlocking, however, after he warned the spread of the Indian variant could threaten further easing on June 21. On Sunday, Britain reported just over 1,900 new Covid cases, while the number of people having received the second vaccine dose passed 20 million. On the earnings and data front, Ryanair reports its latest earnings and Russia reports preliminary first-quarter gross domestic product. Enjoyed this article? Source: Read Full Article
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