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(RTTNews) - Stock markets in Europe are expected to open higher on Monday amidst positive sentiment generated by strong corporate earnings from the tech sector. AI enthusiasm and hopes of further progress in U.S.-Iran peace talks has also bolstered market sentiment. Equity markets in U.K. are closed for a holiday.
Wall Street had closed on a mixed note on Friday amidst strong corporate earnings and a decline in crude oil prices. The tech-heavy Nasdaq Composite jumped 0.89 percent to close trading at a record high of 25,114.44. The S&P 500 also rallied 0.29 percent to finish trading at an all-time high of 7,230.12. The Dow Jones Industrial Average however slipped 0.31 percent to finish trading at 49,499.27.
Major European markets had finished trading on a positive note on Thursday, ahead of a holiday on Friday. Germany's DAX had jumped 1.4 percent to end Thursday's trading at 24,292.38. The pan-European Stoxx-50 had also gained 1.1 percent to finish trading at 5,881.51. Switzerland's SMI also recorded an increase of 0.80 percent to close at 13,136.27. France's CAC 40 had also rallied 0.53 percent in Thursday's trading to close at 8,114.84. U.K.'s FTSE 100 had however erased 0.14 percent and closed trading at 10,363.93 on Friday.
Current indications from the European stock futures indicate a mostly positive sentiment. The CAC 40 Futures (May) is trading 0.46 percent higher. The pan-European Stoxx 50 Futures (Jun) is trading 0.37 percent higher. The DAX Futures (Jun) is trading 0.30 percent higher. The SMI Futures (June) is trading 0.26 percent higher. The FTSE 100 Futures (Jun) had closed on an almost flat note on Friday.
American stock futures are trading in mildly positive territory implying positive expectations surrounding the Middle East peace efforts as well as the quarterly earnings reporting. The US 30 (DJIA) is trading flat, whereas the US500 (S&P 500) is trading 0.17 percent above the flatline.
Asian stock markets are trading on a mostly positive note. South Korea's KOSPI has jumped 4.7 percent. Hong Kong's Hang Seng has surged 1.4 percent whereas India's Nifty 50 is trading more than 1 percent above the flatline. DJ New Zealand has also gained 0.52 percent. Australia's S&P ASX 200 has however dropped 0.33 percent. Equity markets in China and Japan are closed for a holiday.
The Dollar Index, a measure of the U.S. dollar's strength relative to six currencies, is currently trading at 98.13, edging down 0.02 percent from 98.16 at the previous close. The EUR/USD pair has added 0.07 percent to trade at 1.1729 whereas the GBP/USD pair has gained 0.09 percent to trade at 1.3588. The USD/CHF pair has slipped 0.10 percent to trade at 0.7810. The EUR/GBP pair is trading 0.01 percent lower at 0.8633. The EUR/JPY pair has slipped 0.11 percent to 183.88 and the GBP/JPY pair has slipped 0.10 percent to 212.99.
Gold futures for June settlement have slipped 0.77 percent from the previous closing level of $4,644.50. It is currently trading at $4,608.81.
Both the crude oil benchmarks are trading below the flatline as markets anticipate further progress in the efforts to end the U.S.-Iran conflict and disruption in supply. Brent Crude Futures for July settlement is trading at $107.42, around 0.69 percent lower than $108.17 at the previous close. WTI Crude Futures for June settlement is currently at $101.06, around 0.86 percent lower than $101.94 at the previous close.
No major economic data releases are due from the region on Monday except manufacturing PMI for April from Switzerland.
Major updates to earnings due from the region on Monday include UCB, Lonza Group, Hexpol, Banco de Sabadell, EMS Chemie, Unibail-Rodamco-Westfield, Nyfosa, Ascendis Pharma, Ratos etc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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