European markets set to start the new trading week in mixed territory

Holly Ellyatt@HollyEllyatt

LONDON — European stocks are expected to start the new trading week in mixed territory, after global markets rallied last week.

The U.K.’s FTSE index is seen opening 11 points lower at 8,299, Germany’s DAX down 13 points at 18,314, France’s CAC 40 up 10 points at 7,454 and Italy’s FTSE MIB up 58 points at 33,195, according to data from IG.

European markets closed higher last Friday, rounding off a winning week for global stocks after recent market jitters and volatility.

U.S. stocks posted solid gains last Friday, boosted by last Thursday’s weekly jobless claims and retail sales data. That further signaled to investors that recent nervousness over a U.S. recession were overblown.

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Overnight, Asia-Pacific markets were mixed as investors awaited a slew of central bank releases and inflation data this week. U.S. stock futures inched higher in overnight trading Sunday.

Wall Street is looking ahead to Federal Reserve Chair Jerome Powell’s Jackson Hole, Wyoming, speech on Friday, searching for more clarity on the outlook for rate cuts. Minutes from the Fed’s most recent meeting are also set to be released Wednesday.

There are no major earnings releases Monday. Data releases include Spain’s latest balance of trade figures.

Source : cnbc