European stocks to open higher as they rebound from Turkey fears

European stocks are expected to open in the black Tuesday morning as concerns over Turkey’s economic woes eased.

The FTSE 100 is seen up by 12 points at 7,660; the CAC 40 is seen higher by three points at 5,420; and the DAX in Germany is set to start up by 13 points at 12,386, according to IG.

Investors continue to track events in Turkey, where the currency touched a record low Monday. The lira has been in freefall mostly since the start of the year, down by about 33 percent on the back of large fiscal stimulus, growing inflation, a hefty current account deficit and, most recently, a spat with the United States.

John Bolton, a White House national security adviser, met the Turkish ambassador to the United States on Monday to discuss Turkey’s detention of an American pastor. The U.S. said Ankara has until Wednesday to free pastor Andrew Brunson.

Investors will also be monitoring further earnings, with Antofagasta, RWE and Bilfinger reporting their latest results.

The calendar is data heavy Tuesday. The euro zone will know its latest growth rate figures at 10 a.m. London time (5 a.m. ET). Industrial production numbers and the ZEW economic sentiment index for the region will also be released at that time.

Source: CNBC

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