European markets are expected to open mixed Tuesday as investors search for the next catalyst following the French election, while oil prices edged higher on renewed optimism over a potential extension to OPEC supply cuts.
The FTSE 100 is seen 9 points higher at 7,299; the DAX is on track to open one point lower at 12,697, and the CAC 40 is expected to open higher by around 6 points at 5,383.
Oil prices pared gains on Tuesday as a relentless rise in U.S. crude output activity appeared to cap the impact of renewed hopes that OPEC-led supply cuts could be extended.
Commerzbank reported a 28 percent increase in net earnings for the first three months of the year on Tuesday. Germany’s second-largest lender beat analyst expectations and said it would aim to keep its base costs stable throughout the year.
Elsewhere, South Korea held presidential elections on Tuesday following the dismissal of former premier Park Guen-hye in March when the country’s constitutional court upheld her impeachment regarding alleged involvement in a corruption scandal.
Source: CNBC
