Stock Groups

European markets head for positive open as new year trading begins


LONDON — European stocks are expected to open broadly higher on Monday in the first trading day of the new year.

Germany’s DAXFrance’s opening point is 43 points higher, at 15,887 CAC 40 up 14 points at 7,164, Italy’s FTSE MIBData from IG shows that the number of points was 53 higher at 27,191.

Tuesday’s new year holiday saw markets close in Ireland and Britain. Therefore, trading volumes could be less in these countries on Monday.

Europe is expected to see a positive start after choppy trading in Asia, which saw shares mixed on Monday. Monday holiday saw some markets close in Asia, such as Japan, China mainland and Australia.

Trades in debt-ridden Chinese developer’s shares and structured product China Evergrande Group was halted in Hong Kong, according to an exchange notice. The suspension was not prompted immediately.

Wall Street was looking to begin 2022 with a strong foundation, and U.S. stock options rose in the meantime.

The uncertainty over the Covid-19 pandemic continues into the new year. This was made possible by the rise of the micron variant. thousands of flight cancellations during the holiday season and has led some businesses and schools to consider temporary closures. Numerous major Wall Street banks have asked employees to work from home for the first few weeks of January.

Anthony Fauci, an expert in infectious diseases, told ABC’s Sunday show “This Week” that U.S. officials might soon revise guidelines to add a testing recommendation to signal when a person who previously tested positive for Covid can leave isolation.

Investors expect inflation and monetary policies to be the key themes of 2022. The Federal Reserve is expected to raise rates several times this year in order to cool consumer prices.

The December data releases will include the December index data of final purchasing managers for eurozone in December as well as new registrations in Spain and Belgium for December.

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— CNBC’s Jesse Pound and Eustance Huang contributed to this market report.