Shares in Europe seen higher on corporate earnings; Italy, Brexit remain on radar

Shares in Europe are poised for a higher open Monday morning as investors focus on earnings and sentiment bounces back from last week’s losses.

The FTSE 100 is seen higher by 8 points at 7,057; the DAX 30 is set to open up by 27 points at 11,580; and the CAC 40 is also seen up by 15 points at 5,099; according to IG.

Asian stocks were mostly higher on the back of stronger market support by Chinese authorities amid a weakening in growth figures.

In Europe, market focus is mostly on corporate earnings with several big stocks announcing their latest results. Ryanair, Philips and EssilorLuxottica are among the companies updating markets Monday morning.

In terms of data, there are no significant releases due. However, investors will keep an eye on politics. Italy is reportedly expecting the European Commission to reject its draft budget on Tuesday and ask for a new plan, given the planned increase in public spending, Reuters reported citing a government source.

Prime Minister Theresa May is also due to address the House of Commons. She is likely to tell lawmakers that 95 percent of the Withdrawal Agreement is ready.

Source: CNBC