LONDON — European stocks are set to open in positive territory on Monday in what should be a calmer day for global markets given the July 4 holiday in the United States.
Britain’s FTSE is expected to open 44 points higher at 7,200, Germany’s DAX 65 points higher at 12,865, France’s CAC 40 37 points higher at 5,958 and Italy’s FTSE MIB 34 points higher at 21,281, according to IG data.
Global markets are settling in to trade in the second half of the year after the first half – dominated by concerns over inflation, the war in Ukraine and the potential for a global recession – ended last week.
There are signs that Asian markets are struggling to orient themselves. Overnight, Hong Kong shares fell as Asia-Pacific markets were mixed on Monday ahead of central bank decisions in Australia and Malaysia this week.
As US markets are closed for the July 4 holiday on Monday, trading volumes are expected to be much lower. Last Friday, U.S. stocks rose at the start of the new quarter after the S&P 500 closed its worst first-half performance in decades.
There are no major earnings or data releases from Europe on Monday, except for Spain’s latest Producer Price Index data for May.