European stocks set to edge higher, tracking positive global sentiment
- Earnings are in focus once again in Europe on Monday, with Heineken, AXA and HSBC among the big names reporting.
- On the data front, final Markit manufacturing PMI (purchasing managers' index) readings for July are due from across the euro zone and the U.K. on Monday morning.
LONDON — European stocks are set to open higher on Monday, tracking positive sentiment around the world to begin the month.
Britain's FTSE 100 is seen around 34 points higher at 7,066, Germany's DAX is expected to add around 69 points to 15,613 and France's CAC 40 is set to climb around 33 points to 6,646, according to IG data.
Shares in Asia-Pacific climbed on Monday as investors picked up bargains following a recent rout, while data showed Chinese manufacturing activity growth slowed in July.
Stateside, stock futures were higher in early premarket trade as strong earnings and bipartisan progress on a wide-ranging $1 trillion infrastructure bill overrode concerns about the spread of the delta Covid-19 variant.
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In Europe, automakers' lobby CCFA-PFA said Sunday that the global semiconductor shortage and surging infections are hindering rebound prospects for the French auto market.
Meanwhile, the U.K.'s Sunday Times has reported that private equity firm Clayton, Dubilier & Rice is preparing a fresh counteroffer to take over British supermarket chain Morrisons.
Earnings are in focus once again in Europe on Monday, with Heineken, AXA and HSBC among the big names reporting.
On the data front, final Markit manufacturing PMI (purchasing managers' index) readings for July are due from across the euro zone and the U.K. on Monday morning.
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