The City of London financial district at sunrise.
Alexander Spatari | Moment | Getty Images
LONDON — European stocks are expected to open in flat territory on Monday as regional markets look for momentum after a series of positive sessions last week.
The U.K.’s FTSE index, Germany’s DAX, France’s CAC 40 and Italy’s FTSE MIB are all seen opening around the flatline, according to data from IG.
European stocks closed higher on Friday with the pan-European Stoxx 600 ending the session up 0.5%, marking the index’s fifth consecutive day of gains. On Thursday, the index reached an all-time high during the trading session.
Major bourses across the region made gains on Friday. London’s FTSE 100 index — which also hit an all-time high earlier last week — was up 0.7% at the close, while Switzerland’s SMI added 0.6% and Italy’s FTSE MIB ended 0.4% higher.
It was a similar story in the U.S. last week, with Wall Street also seeing record highs despite a continuing government shutdown.
Investors have appeared to shrug off worries about the shutdown, which has delayed the release of key economic data — including the September jobs report — originally due on Friday. U.S. stock futures were little changed Sunday night.
In Asia-Pacific markets overnight, Japan’s Nikkei 225 index jumped over 4% to hit a record high after the country’s ruling Liberal Democratic Party elected Sanae Takaichi as its new leader, positioning her to become the country’s first female prime minister.
In Europe on Monday, data releases include Spanish industrial production figures and European and U.K. construction PMIs, reflecting business activity in the sector.