European Markets Pause for Breath, Heading for Cautious Open

European Markets Pause for Breath, Heading for Cautious Open

European stocks are expected to experience a lackluster open on Tuesday, following a more cautious tone in the U.S. overnight.

Britain’s FTSE is seen opening 7 points higher at 7,060, Germany’s DAX 1 point lower at 15,563, France’s CAC 40 up 9 points at 6,412 and Italy’s FTSE MIB 58 points higher at 24,921, according to IG.

European market watchers will be looking out for the latest Ifo business climate survey from Germany on Tuesday, earnings from Aviva and a more detailed picture of first-quarter gross domestic product (GDP) figures from Germany.

Markets will also be looking at any further fallout from Belarus’ “hijacking” of a Ryanair plane, forcing it to land in Minsk where it promptly arrested a prominent opposition activist. European officials agreed to put more sanctions on Belarus at a meeting on Monday.

The more choppy open for Europe’s main markets comes as U.S. stock futures were little changed in overnight trading on Monday, following a strong session led by technology shares and reopening plays.

The major averages rose on Monday, led by tech stocks and companies that benefitted from a strong reopening from the pandemic as Covid cases dropped to their lowest level since June.

Meanwhile, shares in Asia-Pacific rose in Tuesday morning trade following gains stateside. Taiwan’s Taiex led gains among the region’s major markets, rising 1.62%.

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