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European markets head for higher open despite fears for global growth

Soegeefx AppsEU MarketEuropean markets head for higher open despite fears for global growth

Key Points

  • European stocks are expected to open higher on Monday despite fears over the global economy dominating market sentiment.
  • The U.K.’s FTSE index is seen opening 34 points higher at 7,422, Germany’s DAX up 129 points at 14,099, France’s CAC 40 up 51 points at 6,312, Italy’s FTSE MIB 190 points higher at 23,899, according to data from IG.

LONDON — European stocks are expected to open higher on Monday despite fears over the global economy dominating market sentiment.

The U.K.’s FTSE index is seen opening 34 points higher at 7,422, Germany’s DAX up 129 points at 14,099, France’s CAC 40 up 51 points at 6,312 and Italy’s FTSE MIB 190 points higher at 23,899, according to data from IG.

The higher open expected in Europe comes after regional markets closed higher on Friday after a volatile trading week.

Despite the higher close, European stocks still logged a negative week, while U.S. stocks fell on Friday, extending losses from earlier in the week and putting the S&P 500 on the cusp of a bear market.

U.S. stock futures rose in overnight trading Sunday after the Dow Jones Industrial Average fell for its 8th straight week amid a broader market sell-off. Shares in the Asia-Pacific region were mixed on Monday as global concerns continued to plague investors.

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The World Economic Forum kicks off in Davos this week, bringing together political and business leaders from around the world. This year’s summit comes after several years of Covid-19 pandemic and amid Russia’s invasion of Ukraine, which is expected to feature at the top of the agenda.

CNBC will be speaking to a variety of leaders at the forum, with the CEOs of UBS, Edelman, SAP and EY Monday, as well as the chairman of the State Bank of India, the chairman of Credit Suisse and Swedish finance minister, among others.

Source : CNBC

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