European markets climb as investors follow Ukraine developments
LONDON — European stocks are expected to open higher on Monday as investors continue monitoring developments in the war between Ukraine and Russia.
The U.K.’s FTSE index is seen opening 20 points higher at 7,503, Germany’s DAX 55 points higher at 14,370, France’s CAC 40 up 25 points at 6,584 and Italy’s FTSE MIB 162 points higher at 24,058, according to data from IG.
Global markets are watching events in Ukraine closely more than a month after Russia began its invasion of the country.
Ukrainian President Volodymyr Zelenskyy has reiterated that his country is prepared to discuss adopting a neutral status as part of a peace deal with Russia. Meanwhile, U.S. Secretary of State Antony Blinken has sought to clarify President Joe Biden’s comments that Russian President Vladimir Putin “cannot remain in power.”
U.S. stock futures were slightly lower Sunday evening as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve’s planned interest rate hikes. Key data releases in the U.S. this week include the Job Openings and Labor Turnover Survey, and ADP will also release its private payrolls data ahead of the closely watched monthly jobs report, on Friday.
In Asia overnight, shares in Chinese tech firms mostly rose in mixed Asia-Pacific trading on Monday, with oil prices falling more than 2%.
The Atlantic Council Global Energy Forum is taking place on Monday and CNBC will be interviewing leaders in the industry, including Bulgaria’s and Albania’s energy ministers, and Claudio Descalzi, the CEO of Eni.
There are no major earnings or data releases on Monday.
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