Bourses in Europe are set to open higher Tuesday despite tech stocks continued to fall in Asian trade. Investors will be watching out for political events and fresh data while waiting for a Federal Reserve meeting later this week.
The FTSE 100 is seen 37 points higher at 7,547, the German DAX is set to start higher by 16 points at 12,717 and the CAC 40 is set to open up by 8 points at 5,245.
Prime Minister Theresa May is set to hold talks with DUP members as she looks for a deal that will allow her to obtain a parliament majority. Meanwhile, she told lawmakers she would continue as prime minister for as long as they want.
Nonetheless, Brussels is urging the U.K. to sort out its politics fast to allow Brexit negotiations to start rapidly.
“My preoccupation is that time is passing, it is passing quicker than anyone believes because the subjects we have to deal with are extraordinarily complex,” the EU’s chief Brexit negotiator told the Financial Times.
In corporate news, Allied Irish Banks intend to raise up to $3.7 billion when it sells a 25 percent stake on the Dublin and London stock exchange.
Oil prices moved higher on Tuesday after statements from Saudi Arabia that it was making significant supply cuts. On Tuesday’s calendar is the release of May core inflation figures in the U.K. at 9.30 a.m. London time and the euro zone ZEW economic sentiment index at 10 a.m. London time.
Source: CNBC
