European markets seen higher following G-20 talks

Big 5

Markets in Europe are expected to open higher on Monday morning, extending gains seen across the U.S. and Asia.

The FTSE was seen opening higher by 38 points at 7,381; the German DAX was expected to open up 53 points higher at 12,388; and the French CAC was on track to open higher by 24 points at 5,163.

Stocks in Asia rallied on Monday, boosted by Wall Street’s strong performance late last week when U.S. June employment data emerged stronger than expected.

World leaders met over the weekend in Hamburg at the 12th annual G-20 talks, during which global issues such as trade, climate change and defense were discussed. During the talks, President Donald Trump met with Russian President Vladimir Putin for the first time and discussed forming “an impenetrable cybersecurity unit” – an idea he has since retracted. Reports later emerged suggesting that Trump’s son was involved in meeting with a Kremlin-linked lawyer to discuss damaging information on Hillary Clinton during the 2016 presidential election.

Looking ahead to this week, Monday will see euro zone finance ministers meet in Brussels for a Eurogroup meeting and Australian Prime Minister Malcolm Turnbull will visit British Prime Minister Theresa May.

Meanwhile, Secretary of State Rex Tillerson will be in Istanbul to meet with the Turkish government to discuss bilateral and regional issues ahead of a major oil conference. This comes as the city saw a major anti-government protest rally on Sunday. Source: CNBC

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