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European Markets Open Slightly Higher As Global Markets Seek Fresh Cues

European Markets Open Slightly Higher As Global Markets Seek Fresh Cues

European stocks opened slightly higher Monday before hovering around the flatline.

The pan-European Stoxx 600 index opened 0.2% higher before hovering around the flatline with basic resources, banks and autos among the sectors in negative territory. Utilities, telecoms, media and insurance were among the sectors in positive territory.

The mixed open expected in Europe doesn’t reflect more positive trade in Asia-Pacific markets overnight; there, stocks rose in Monday trade, with shares in Japan and China leading gains regionally.

Still, investors continued to watch the coronavirus situation in the region. Japan’s government is set to put Tokyo under a new Covid state of emergency on Monday while stricter social distancing restrictions are set to kick in for the greater Seoul area in South Korea, according to local media reports.

Elsewhere in Southeast Asia, several countries including Indonesia and Malaysia continue to struggle with a recent surge in infections, according to Reuters.

Meanwhile, U.S. stock futures were mostly flat late Sunday ahead of earnings season this week.

Futures on the Dow Jones Industrial Average added 25 points, or 0.07%. S&P 500 futures edged 0.08% higher and Nasdaq 100 futures rose 0.17%.

The three major indexes closed at record highs last Friday after a sell-off Thursday as investors worried about a potential slowdown in U.S. economic growth.

There are no major earnings or data releases in Europe on Monday.

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