LONDON – European stocks are expected to open higher on Monday as investors continue to monitor developments around the Covid omicron variant and bitcoin volatility.
UK FTSE The index is seen opening 56 points higher at 7,165, Germany’s DAX 136 points higher at 15,259, of France CAC 40 up 72 points at 6,815 and that of Italy FTSE MIB 199 points higher at 26,107, according to data from IG.
European markets are off to a positive start to the trading week although the global picture is more mixed.
Shares in Asia-Pacific fall on Monday as investors watch bitcoin price after they drop sharply at the weekend. Meanwhile, oil prices rose during the early Asian session, gaining more than 2% during Asian trading hours after most fell last week on Covid uncertainty and OPEC+ plans to increase production in January.
On the outside, stock futures were higher even after Declining week on Wall Street as investors abandoned stocks amid concerns about a new omicron Covid variant and the Federal Reserve’s move to tighten policy. At least 15 US states have detected the current omicron coronavirus variant.
Last Friday’s strong sell-off in tech stocks extended to crypto with bitcoin price volatility throughout the weekend. Bitcoin trading for about $57,000 on Friday morning, but by Saturday it was falls around $43,000. By Sunday, the world’s largest cryptocurrency was recover some of its losses, but it is still trading below the key $50,000 level; it is currently trading around $49,058.
Data released in Europe on Monday includes German industrial orders for October, the eurozone sentix index for December and the first estimate of Greece’s gross domestic product for the month of December. third quarter.
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– Pippa Stevens and Weizhen Tan of CNBC contributed to this market report.