European markets are expected to see a positive start to the new trading week after recent global market uncertainty and volatility.
The U.K.’s FTSE 100 index is expected to open 32 points higher at 8,711, Germany’s DAX up 58 points at 23,092, France’s CAC 58 points higher at 8,170 and Italy’s FTSE MIB 186 points higher at 38,816, according to data from IG. There are no major earnings or data releases in Europe on Monday.
Regional markets closed in negative territory last Friday, rounding off a volatile week marked by whipsawing policy on U.S. tariffs, the latest rate cut from the European Central Bank and key U.S. jobs data which showed nonfarm payrolls rose by a less-than-expected 151,000 in February.
Asia-Pacific markets were mixed overnight as traders looked ahead to the new trading week with investors keeping a watch on steel manufacturers ahead of U.S. 25% tariffs on steel and aluminum imports, which will kick off this Wednesday.
U.S. stock futures moved lower on Sunday evening ahead of a busy week of economic data, with the February consumer price index slated for Wednesday, followed by the producer price index on Thursday.
There will be more geopolitical action this week at a meeting between U.S officials and their Ukrainian counterparts in Saudi Arabia this week. The U.S. said the meeting, which is taking place in Jeddah on Tuesday, will allow it to gauge whether Ukraine is willing to make meaningful concessions in order to reach a peace deal with Russia to end the war.