Tue. Jan 31st, 2023

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European stocks making profit

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European stocks

European stocks are expected to open in positive territory on Tuesday, following a trend set by other global markets.

London’s FTSE is seen opening 13 points higher at 6,306, Germany’s DAX up 75 points at 13,405, France’s CAC 40 up 5 points at 5,554 and Italy’s FTSE MIB up 153 points at 22,209, according to IG.

European markets look set to follow the buoyant mood in their U.S. and Asia-Pacific counterparts; U.S. stock futures rose on Monday night after the major averages notched sharp monthly gains for November.

Meanwhile in the Asia-Pacific markets, shares were higher in Tuesday trade as investors reacted to the release of a private survey of China’s manufacturing activity.

The Caixin/Markit manufacturing Purchasing Managers’ Index for November came in at 54.9 — its highest reading in a decade. PMI readings above 50 signify expansion, while those below that level represent contraction.

On the data front, euro zone inflation data for November is due, several euro zone countries release car registration data and the OECD releases its latest economic outlook.

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