European markets set for positive start to trading week

  • London's FTSE is seen opening up 6 points at 7,061, Germany's DAX is expected to open 31 points higher at 15,490, France's CAC 40 up 16 points at 6,306 and Italy's FTSE MIB up 65 points at 24,545, according to IG.

LONDON — European stocks are expected to open higher on Monday, bucking more mixed momentum in global markets overnight.

London's FTSE is seen opening up 6 points at 7,061, Germany's DAX is expected to open 31 points higher at 15,490, France's CAC 40 up 16 points at 6,306 and Italy's FTSE MIB up 65 points at 24,545, according to IG.

The positive start expected for European markets bucks a more mixed trend in other global markets overnight; U.S. stock index futures were mixed in early morning trading on Monday, after the S&P 500 and Dow Jones Industrial Average closed at record highs on Friday.

Earnings season kicked off last week when major U.S. banks reported quarterly results, and a host of companies are set to provide their updates this week. Ten Dow components will report, along with 72 S&P 500 companies. Coca-Cola, IBM and United Airlines are among the firms set to report earnings on Monday.

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Meanwhile, shares in Asia-Pacific traded mixed on Monday, with investors watching Alibaba's stock in Hong Kong following yet another development between affiliate Ant Group and billionaire founder Jack Ma.

Hong Kong-listed shares of Alibaba slipped 1.7% in Monday morning trade. That came after Ant Group said in a tweet that a recent report by Reuters that the firm was looking at ways for Jack Ma to exit were "untrue and baseless."

Euro zone current account and construction output data for February is due; there are no other major data releases or earnings expected.

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– CNBC's Eustance Huang and Pippa Stevens contributed reporting to this story.

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