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European stocks seen higher as investors await economic data, earnings

European markets are set to open higher on Monday morning, with investor sentiment expected to be buoyed by a market rally in Asia.

The FTSE 100 is expected to start 16 points higher at 7,681, while the DAX is seen up 48 points at 13,382 and the CAC 40 is set to open 18 points higher at 5,547, according to IG.

In Asia, stocks extended their bull run amid a flurry of upbeat corporate earnings and robust economic growth data. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, added 0.4 percent and appeared on course to notch a twelfth consecutive session of gains.

Stateside, Wall Street has also been on a tear. Since the start of earnings season, the overwhelming majority of companies in the S&P 500 to have reported their latest figures have beat analysts’ expectations, Reuters reported. Heavy hitters including the likes of Apple, Microsoft and Amazon are all scheduled to report this week.

Back in Europe, Telekom Austria and Bankia are expected to report earnings on Monday. Meanwhile, Spain and Ireland are both due to report retail sales data shortly after the opening bell.

In commodities, oil prices were seen hovering close to multi-year highs on Monday. Brent crude traded at around $70.41 a barrel Monday morning, down 0.2 percent, while U.S. crude was around $66.34 a barrel, up 0.3 percent.

Source: CNBC

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