European Markets Head For Mixed Open, Reflecting Uncertain Sentiment Globally

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European stocks are expected to open mixed on Tuesday, reflecting similar trade in their Asia-Pacific counterparts overnight.

London’s FTSE is seen opening 22 points lower at 7,165, Germany’s DAX18 points lower at 15,908, France’s CAC 40 down 1 point at 6,740 and Italy’s FTSE MIB 6 points higher at 26,252, according to IG.

The sentiment in Europe continues a trend seen in the Asia-Pacific trading session. Shares in the region were mixed in Tuesday trade, as data showed China’s August trade data came in above expectations.

China’s exports jumped 25.6% year-over-year in August, customs data showed Tuesday — above expectations for a 17.1% rise by analysts in a Reuters poll.

 

Meanwhile, investors will be keeping an eye on sentiment in the U.S. on Tuesday after markets there were closed on Monday for a holiday. U.S. stock futures opened slightly higher Monday night after the Dow slipped from a record high on Friday.

The losses came after the August U.S. jobs report came in short of expectations, highlighting continued concern about the spread of Covid and its delta variant. Nonfarm payrolls increased by 235,000 in August, the Labor Department reported, but economists surveyed by Dow Jones expected 720,000 jobs. The disappointing August jobs report will likely influence the Fed’s timeline for tapering its asset-purchase program.

There are no major earnings releases due in Europe on Tuesday; on the data front, however, Germany’s ZEW survey of economic sentiment for September is due.

– CNBC

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