European Markets Trade Higher, Reflecting Buoyant Global Sentiment

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European stocks were trading slightly higher on Monday, reflecting broadly positive trade in global markets overnight.

The pan-European Stoxx 600 index was trading 0.1% higher with most sectors in positive territory apart from banks, healthcare, insurance, telecoms and travel and leisure. U.K. markets are closed for a public holiday.
A positive start to the trading week in the final days of August reflects sentiment elsewhere, with U.S. stock futures steady in overnight trading on Sunday, and shares higher in Asia-Pacific.

It’s expected that U.S. stocks could stay range-bound until the release of August’s jobs report on Friday, however. Economists polled by Dow Jones expect 750,000 jobs were created in August and the unemployment rate fell to 5.2%.

Last week, the S&P 500 and the Nasdaq Composite closed at all-time highs on Friday as investors breathed a sigh of relief after Federal Reserve Chair Jerome Powell signaled bond tapering could start this year, but the central bank is in no rush to hike interest rates.

In Asia-Pacific overnight, shares rose as investors looked ahead to the release of Chinese food delivery giant Meituan’s earnings.

In other Chinese tech developments, Beijing is reportedly looking at new rules that would restrict domestic internet firms from going public in the U.S., according to the Wall Street Journal.

There are no major European earnings releases on Monday but data releases in the region include preliminary inflation readings from Germany and Spain for August and the latest euro zone economic sentiment and business climate data.

– CNBC

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