BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Stock markets in Europe are expected to open on a positive note on Monday amidst an easing in tensions between the U.S. and China. Sentiment improved globally as U.S. officials struck a conciliatory tone on the escalating trade conflict with China The strong surge in Asian markets on Monday is also expected to support sentiment.
Wall Street had closed on a positive note on Friday amidst President Trump's remarks that eased fears of further trade escalation with China. The Dow Jones Industrial Average added 0.52 percent to finish trading at 46,190.61. The Nasdaq Composite also rallied 0.52 percent to close trading at 22,679.98.
European markets had however closed on a heavily negative note on Friday as trade tensions between the U.S. and China weighed on sentiment. Germany's DAX plunged 1.8 percent followed by U.K.'s FTSE 100 that erased 0.86 percent. The pan-European Stoxx-50 declined 0.79 percent followed by Switzerland's SMI that dropped 0.45 percent. France's CAC 40 lost 0.18 percent in Friday's trade.
Current indications from the European stock futures indicate a positive sentiment. The DAX Futures (Dec) is trading 0.7 percent higher followed by the pan-European Stoxx 50 Futures (Dec) that is trading 0.80 percent higher. The FTSE 100 Futures (Dec) is trading 0.40 percent higher. The SMI Futures (Dec) had closed 0.45 percent lower on Friday. The CAC 40 Futures (Nov) had also closed 0.18 percent below the flatline on Friday.
American stock futures are trading in mildly positive territory. The US 30 (DJIA) is trading 0.30 percent higher, whereas the US500 (S&P 500) is trading 0.40 percent above the flatline.
Asian stock markets are trading on a positive note as easing in trade tensions between the U.S. and China supported sentiment. Japan's Nikkei 225 has surged 2.9 percent amidst easing political uncertainty and expectations that fiscal dove Sanae Takaichi would secure the premiership. Tech rebound helped Hong Kong's Hang Seng jump 2.3 percent. South Korea's KOSPI has surged 1.4 percent. China's Shanghai Composite has added 0.66 percent amidst a positive GDP update. India's Nifty 50 has witnessed an increase of 0.6 percent. Australia's S&P ASX 200 added 0.37 percent. DJ New Zealand has also gained 0.37 percent.
The Dollar Index, a measure of the U.S. dollar's strength relative to six currencies, is trading at 98.41, a tad below the flatline. The EUR/USD pair has in the meanwhile rallied 0.18 percent to 1.1673 and the GBP/USD pair has added 0.13 percent to trade at 1.3443.
Gold prices have jumped 1.6 percent after the massive decline on Friday. Gold Futures for December settlement are trading at $4,280.04, versus the previous close of $4,213.30.
Both the crude oil benchmarks are trading below the flatline. Brent Crude Futures for December settlement is trading at $61.10 versus $61.29 at close on Friday. WTI Crude Futures for December settlement is currently at $56.97 versus $57.15 at close on Friday.
No major data updates are due from the region except Producer Price Inflation readings for September from Germany.
Major updates to earnings due from the region include Sandvik, Danone, Zegona Communications, AGNC Investment Corp, Zions Bancorporation, Plus500, Forvai, Hornbach-Baumarkt, Aryzta, and Atos.
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