LONDON – European stocks will open cautiously on Monday following gains seen last Friday, although Italy’s main index opens in negative territory amid political uncertainty.
The UK FTSE index rises 12 points to 7,129, Germany’s DAX 12 points higher with 12,881, French CAC 40 rises 11 points to 6,051 and Italy’s FTSE MIB 51 points lower to 20,799, according to data of IG.
This comes amid a more dynamic global sentiment. On Monday, in the Asian and Pacific markets, Hong Kong’s Hang Seng rose more than 2%, while U.S. stock index futures rose slightly Monday morning after a positive end of the week last week.
Friday’s relief rally came as traders bet the Federal Reserve will be less aggressive at its next meeting. The Wall Street Journal reported Sunday that the central bank is on track to raise interest rates by 75 basis points at its meeting later this month, rather than a larger increase and percentage points than some analysts had predicted.
Fears of the recession have dominated trade sentiment in recent weeks, as market participants worry that the Fed’s aggressive action, in an effort to control high inflation for decades, will end up turning the economy into a recession. .
Last week, new inflation data showed that consumer prices rose 9.1% in June, a warmer-than-expected reading and the largest increase since 1981. turn, led traders to bet that the Fed could raise rates by a full percentage point at its meeting in late July.
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Haleon shares are expected to begin trading in the main London Stock Exchange market as an independent, listed company, after GSK shareholders approved the spin-off of its consumer healthcare business.
There are no big gains or data releases on Monday.
– CNBC’s Pippa Stevens contributed to this report.