European markets set to open higher

European markets are poised to open higher Monday as investors look beyond global cybersecurity threats and the latest North Korean missile test.

The FTSE 100 looks set to open up 16 points at 7,442; the DAX is seen 34 points higher at 12,797; and the CAC 40 is on track to start trading 20 points higher at 5,414.

A victory for German Chancellor Angela Merkel’s conservatives in a key state election Sunday and moves by Russia and Saudi Arabia to extend oil output cuts are expected to shift markets into positive territory Monday. This comes after a weekend weighed by growing cybersecurity threats, after more than 200,000 computers in 150 countries fell victim to a ransomware attack, and North Korea conducted its latest missile test.

On the agenda Monday, investors will be looking ahead to corporate earnings from chemical manufacturer Evonik, industrial service provider Bilfinger and travel company Tui.

Meanwhile, France’s newly inaugurated President Emmanuel Macron will embark on his first day in office Monday. First on his agenda will be the appointment of his new prime minister and a meeting with German Chancellor Angela Merkel. Britain’s Conservative Party will publish its manifesto ahead of June 8’s general election.

Source: CNBC