European markets set for a higher open but Spanish stocks set to slide after Catalan crackdown
The FTSE 100 is set to open 11 points higher at 7,376; the DAX 30 is seen up by 80 points at 12,885 and the CAC 40 is expected to start up by 26 points at 5,340.
Market sentiment is set to take cues from Asian markets, where improved business confidence among manufacturers boosted stocks.
Euro prices dropped about a third of a cent against the U.S. dollar during Asian trading as investors worried about an independence vote in Catalonia, Spain.
Spanish stocks are also set to see sharp falls when trading begins on Monday morning. The regional government said that 90 percent of people voted in favor of independence, but the national authorities said the referendum was illegal. Catalan officials said that more than 800 people were injured during clashes with the police, which tried to prevent people from voting.
In the U.K., investors will be watching out for comments from the Conservative Party Conference with Finance Minister Phillip Hammond due to speak at 11:40 a.m. London time. On Sunday, Prime Minister Theresa May vowed to have the right strategy to lead Britain.
In the U.S., the White House is set to hold a “cut the red tape” event. Meanwhile, President Donald Trump dismissed the importance of talking with North Korea. Separately, he said that in two to three weeks he will decide who’s going to replace Janet Yellen as chair of the U.S. Federal Reserve.
In terms of data, investors will be watching out for manufacturing PMIs from across the euro zone starting at 08.15 a.m. London time with Spanish numbers.
Source: CNBC
