European stocks head for higher open with earnings and U.S. trade deals in focus
Opening calls
Good morning from London.
European stock markets are heading for a higher open today, according to IG data, with major bourses heading for gains of around 0.2%.
On Monday, initial optimism over the EU-U.S. framework trade deal faded by the end of the session to leave the Stoxx 600 index at a 0.23% loss. Investors will continue to hunt for any clarity on the outlook today — particularly as uncertainty remains for sectors including pharmaceuticals, and key products like spirits.
“We see the tentative trade deal with the EU as pretty much completing the run of good trade news that has lifted global confidence and equity markets, and weakened the [U.S. dollar],” Standard Chartered macro strategist Steve Englander said in a Monday note.
“The deals are a negative from a global growth perspective but appear to be something that US trading partners can live with.”
Earnings are also in focus, with British bank Barclays reporting shortly. Results are also out from L’Oréal, AstraZeneca and Ferrovial, along with Boeing, Starbucks, Visa, PayPal and more Stateside.
— Jenni Reid
