European markets seen higher, Barclays court case eyed

Big 5

European bourses are expected to open higher Monday, entering into the new month on a solid footing after markets posted gains for the first half of the year.

The FTSE 100 is seen 22 points higher at 7,323; the German DAX is expected to open 82 points higher 12,403; and the French CAC is seen up 39 points at 5,154.

Oil prices were also higher Monday. Brent was up 0.21 percent at $48.87 per barrel and U.S. crude was up 0.37 percent at $46.20 after France’s Total announced that it would sign a $1 billion deal investing in a giant Iranian gas field.

Monday sees the start of fraud trial into Barclays and four former executives who are accused of raising capital from Qatar at the height of the financial crisis. This is the first time charges have been taken against a global bank in relation to actions taken during the financial crisis.

At the same time, Barclays has announced Dublin as its pick for its post-Brexit financial hub, enabling it to continue servicing European clients once the U.K. leaves the EU.

Also on the agenda Monday, French President Emmanuel Macron is to address Parliament in Congress to outline the direction of his mandate and a host of manufacturing data will be released.

Meanwhile in the U.S., President Donald Trump attracted new consternation Sunday evening after tweeting a video of himself tackling and punching a man with a CNN logo super-imposed on his head. Source: CNBC

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