European markets look set to start the new year on a mixed note, following the trend set in Asia and the U.S.
European stocks are expected to open in mixed territory on Monday, the first trading session of the new year.
London’s FTSE is seen opening 18 points higher at 6,499, Germany’s DAX 2 points higher at 13,712, France’s CAC 40 down 3 points at 5,584 and Italy’s FTSE MIB 32 points lower at 22,117, according to IG.
European markets look set to start the new year on an uncertain footing, following the trend set in Asia and the U.S. overnight; U.S. stock futures slipped on Sunday night while, shares in Asia-Pacific were mostly higher.
Mainland Chinese stocks rose by the afternoon after a private survey released Monday showed Chinese manufacturing activity expanding in December; China’s official manufacturing PMI released last Thursday showed the country’s factory activity expanding in December, albeit at a slower pace compared to November’s reading.
The coronavirus pandemic continues to be the main focus for European markets, now that the U.K.’s separation from the EU was completed on New Year’s Eve.
The U.K-EU post-Brexit trade relationship has now begun with onlookers waiting to see if there is any disruption to trade flows caused by new rules and paperwork for exporters.
The U.K. is set to start rolling out the coronavirus vaccine developed by AstraZeneca and the University of Oxford on Monday, marking another step in the global battle against the pandemic. But U.K. Prime Minister Boris Johnson said on Sunday that more restrictions were likely on the way as Covid-19 cases keep rising.
There are no major data or earnings releases Monday.