LONDON — European markets are expected to open in negative territory on Monday as last week’s positive sentiment wears off.
The U.K.’s FTSE 100 is expected to open 0.1% lower, Germany’s DAX is seen 0.17% lower, and the French CAC index is seen 0.3% lower, according to data from IG Group.
It follows a record-breaking previous session where Europe’s benchmark Stoxx 600 index hit a fresh intraday high of 588.07 points, as investors digested a swathe of interest rate decisions.
The U.S. and U.K. presidents had a phone call on Sunday, where they discussed Ukraine and Gaza, as attempts to broker a peace deal between Russia and Ukraine march on.
European and Ukrainian negotiators have made changes to the U.S.-drafted peace deal proposal that was leaked to the media last month, but a Kremlin policy aide said on Sunday that they “definitely do not improve the document and do not improve the possibility of achieving long-term peace.” European and Ukrainian leaders were concerned the proposal skewed in Russia’s favor and Kyiv would be pressured into conceding too much. The war is now nearing four years.
Elsewhere, in the private market, fast fashion behemoth Shien escaped a three-month ban in France for selling child-like sex dolls after a court ruled in its favor in a case against the French government on Friday. Shein must implement age verification on its site, the court ordered. The government said it will appeal the decision.
There are no major data releases today, though U.K. GDP and business investment figures are set to be confirmed after previous preliminary releases.
Asia-Pacific markets climbed on Monday as investors parsed China’s central bank’s decision to keep its loan prime rates steady. The People’s Bank of China kept its 1-year and 5-year loan prime rates unchanged at 3% and 3.5% respectively, holding them for a seventh straight meeting, in line with a Reuters survey.
Stateside, stock futures rose on Sunday night as traders deliberate whether tech can regain its footing before the year’s end following a late-week surge that lifted the S&P 500 and Nasdaq Composite last week.
— CNBC’s Lee Ying Shan contributed to this report.