European markets reflect buoyant global sentiment

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LONDON – European stocks are expected to open slightly higher on Monday, reflecting broadly positive trading in global markets overnight.

The German DAX is expected to open 4 points higher at 15,842, the French CAC 40 up 3 points to 6,680 and the Italian FTSE MIB 21 points higher at 26,006, according to IG. UK markets are closed for a public holiday.

A positive start to the trading week in the closing days of August reflects sentiment elsewhere, with US equity futures stable in overnight trading on Sunday and stocks rising in Asia-Pacific.

However, US stocks are expected to remain in a range until the August jobs report is released on Friday. Economists polled by Dow Jones predict that 750,000 jobs were created in August and that the unemployment rate fell to 5.2%.

Last week, the S&P 500 and the Nasdaq Composite closed at all-time highs on Friday as investors breathed a sigh of relief after Federal Reserve Chairman Jerome Powell signaled bond reduction could begin this month. year, but the central bank is in no rush to raise interest. rates.

In Asia-Pacific overnight, stocks rose as investors eagerly awaited earnings from Chinese food delivery giant Meituan.

In other Chinese technological developments, Beijing is reportedly considering new rules that would prevent domestic internet companies from going public in the United States, according to the Wall Street Journal.

There is no release of major European profits on Monday, but data releases in the region include preliminary inflation readings from Germany and Spain for August and the latest data on economic sentiment and the business climate in the euro zone.

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