Markets in Europe are poised to start Tuesday’s trading on a higher note, continuing the positive momentum seen in other global markets.
The FTSE is expected to open higher by 6 points; the CAC is seen higher by 14 points; and the DAX is believed to start up by 25 points; according to IG.
In Asia, shares traded higher following news that the White House is preparing a second meeting between President Donald Trump and North Korean leader Kim Jong Un. Stateside, the picture was also mostly positive with the S&P 500 and the Nasdaq ending a four-day losing streak. A rebound in tech stocks drove that positive momentum.
Back in Europe, investors are monitoring remarks from the EU’s Brexit chief Michel Barnier. He told an audience on Monday that a Brexit deal could be reached in the next six to eight weeks. However, for that to happen the U.K. will have to compromise further regarding the terms of its future relationship with the EU.
Nonetheless, currency traders welcomed his remarks and sterling rose on those comments. A European summit dedicated to the Brexit process could be announced next week for some time in November, the Guardian newspaper reported.
In trade news, the United States and the EU are reportedly working to get a partial trade deal done in the next two months, the Financial Times reported.
In the corporate world, Ryanair is set to face another pilot strike on Wednesday. The German pilots’ union VC called a 24-hour strike affecting all Ryanair flights out of Germany.
In terms of data, there will be employment change figures due in the euro zone at 8 a.m. London time and the ZEW Economic index will also be released at 10 a.m. London time.
Source: CNBC
