BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks look set to open higher on Monday after reports that the U.S. may grant a 90-day extension to the license that has allowed Huawei to continue doing some business within the U.S. The planned extension was reported by Reuters on Friday.
Asian markets edged higher as U.S. Treasury yields bounced higher after plunging last week and the People's Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy.
Investors also cheered media reports suggesting that Germany's coalition government may be open to running a fiscal deficit to counter a possible recession.
Gold prices dipped on a stronger dollar ahead of Fed chair Jerome Powell's speech at the Jackson Hole symposium this week, while oil prices rose around 1 percent in Asian deals on expectations of more OPEC cuts.
Final inflation data from euro area is due later in the session, headlining a light day for the European economic news.
Property website Rightmove said earlier today that U.K. house sales increased sharply in August as buyers insisted to conclude the contract well ahead of Brexit deadline.
Despite a quiet period in the property market, the number of sales advanced 6.1 percent year-on-year this August.
U.S. stocks rose sharply on Friday as expectations for more stimulus contributed to a pullback by U.S. treasuries and a subsequent increase in bond yields.
A measure of consumer sentiment for August came in well below estimates while data on housing starts and building permits proved to be a mixed bag.
The Dow Jones Industrial Average rallied 1.2 percent, the tech-heavy Nasdaq soared 1.7 percent and the S&P 500 added 1.4 percent.
European markets ended Friday's session higher as recession worries ebbed and risk sentiment improved on global stimulus hopes.
The pan European Stoxx 600 ended up 1.2 percent. The German DAX climbed 1.3 percent, France's CAC 40 index advanced 1.2 percent and the U.K.'s FTSE 100 added 0.7 percent.
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