European markets seen higher; euro zone unemployment data eyed

Big 5

European bourses are set to open higher on Monday continuing the gains seen in the U.S. and Asian markets.

The FTSE 100 is seen 31 points higher at 7,236, the French CAC is expected to open 51 points up at 4,927 and the German DAX is set to begin 60 points higher at 11,638.

The auto sector will be under the radar on Monday after U.S. officials arrested a Volkswagen executive on conspiracy charges, the New York Times reported citing two people with knowledge of the arrest. This comes as carmakers reveal their new models for the mass markets at the Detroit auto show this week.

Health care stocks should also be in focus after the French drugmaker Ipsen said it would buy some assets of Merrimack.

On the data front, the euro zone unemployment rate is due to be released alongside the Halifax house price index in the U.K.

Source: CNBC

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