European markets make positive start to the new trading week
LONDON — European stocks are expected to open in positive territory on Monday in what’s expected to be a quieter day for global markets given the July Fourth holiday in the United States.
The U.K.’s FTSE index is seen opening 44 points higher at 7,200, Germany’s DAX 65 points higher at 12,865, France’s CAC 40 up 37 points at 5,958 and Italy’s FTSE MIB 34 points higher at 21,281, according to data from IG.
Global markets are settling in to trading in the second half of the year after the first half — dominated by concerns over inflation, the war in Ukraine and the potential for a global recession — ended last week.
There are signs markets in Asia are struggling for direction. Overnight, Hong Kong stocks fell as Asia-Pacific markets were mixed on Monday ahead of Australia and Malaysia central bank decisions this week.
As U.S. markets are closed for the July Fourth public holiday on Monday, trading volumes are expected to be much thinner. Last Friday, U.S. stocks rose at the start of the new quarter after the S&P 500 closed out its worst first-half performance in decades.
There are no major earnings or data releases in Europe on Monday apart from Spain’s latest producer price index data for May.