- Wall Street's Monday surge recovered some of last week's heavy losses, triggered by the Fed's updated inflation projections and a shortening of its interest rate hike schedule.
- In corporate news, French media group Vivendi awaits a vote from investors Tuesday on a proposed spin-off of its iconic Universal Music Group.
LONDON — European stocks are set for a modestly higher open Tuesday, tracking sentiment in Asia-Pacific and the U.S. after Wall Street arrested the slide triggered by a hawkish turn from the Federal Reserve.
Britain's FTSE 100 is set to climb around 22 points to 7,084, Germany's DAX is expected to add around 36 points to 15,639 and France's CAC 40 is seen around 24 points higher at 6,627, according to IG data.
Shares in Asia-Pacific bounced back on Tuesday as Japan's Nikkei 225 climbed 3% to recover most of Monday's losses, as markets throughout the region broadly advanced.
Stateside, futures contracts tied to the major U.S. indexes moved slightly higher in early premarket trade Tuesday, after a bumper start to the week saw the Dow Jones Industrial Average surge 586.89 points to notch its best day since March.
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Wall Street's Monday surge recovered some of last week's heavy losses, triggered by the Fed's updated inflation projections and a shortening of its interest rate hike schedule.
Back in Europe, European Central Bank President Christine Lagarde gave markets a boost on Monday by offering an optimistic outlook for the euro zone economy and noting that the bloc is "clearly in a different situation" to the U.S. with regard to inflation.
Britain will on Tuesday commence negotiations to join a trans-Pacific trade accord that the government sees as critical to its post-Brexit future. Comprising Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership will erase 95% of tariffs on goods and services between members.
In corporate news, French media group Vivendi awaits a vote from investors Tuesday on a proposed spin-off of its iconic Universal Music Group. The move faces opposition from activist hedge funds which allege it disproportionately benefits the company's largest shareholder, Vincent Bollore, over smaller investors.
On the data front, June consumer confidence data is due from a number of euro zone countries on Tuesday, with a flash reading from across the bloc due at 3 p.m. London time.
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