European markets set to start the new trading week on a flat note – CNBC

LONDON — European stocks are expected to open near the flatline on Monday, lacking clear direction at the start of the new trading week.

The U.K.’s FTSE index is seen opening 1 point lower at 7,305, Germany’s DAX down 8 points at 16,031, France’s CAC 40 higher by 6 points at 7,037 and Italy’s FTSE MIB down 10 points at 27,613, according to data from IG.

European markets look set for a lackluster open on Monday, following a mixed trading session in Asia-Pacific overnight where investors were reacting to China’s trade data released over the weekend.

Official data released over the weekend showed China’s exports surging 27.1% in October compared to a year ago. That was higher than the 24.5% growth forecast by analysts in a Reuters poll.

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Meanwhile, U.S. stock futures idled in overnight trading after the major U.S. market indexes reached record highs on Friday following a better-than-expected October jobs report — U.S. payrolls added 531,000 jobs last month, according to the Labor Department. Friday’s report also revised up September and August payroll numbers.

This week, investors are looking ahead to fresh inflation readings in the U.S. The producer price index and consumer price index are slated for release on Tuesday and Wednesday, respectively. Economists expect both inflation numbers to run hot for October.

There are no major data releases on Monday. Earnings from Henkel and Covestro will be due out.

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– CNBC’s Eustance Huang and Hannah Miao contributed to this report.

source: European markets set to start the new trading week on a flat note – CNBC

Tags: #business news #CAC 40 Index #China #DAX #Economic events #France #FTSE 100 #FTSE MIB #Germany #Italy #Joe Biden #London #World economy #World Markets

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