LONDON — European stocks are expected to open higher on Monday, the last trading day of January, as investors keep an eye on political developments between Russia and Ukraine as well as oil prices.

The U.K. FTSEIndex opens 46 points higher than its previous 7,516, Germany-based opening. DAXFrance: Up 168 Points at 15,492, France CAC 40 up 76 points at 7,073 and Italy’s FTSE MIBAccording to data from IG, the point total rose by 280 at 25,789

After this, the open is expected to be higher in Europe major Asia indexes jumped overnightWith the Nikkei 225 in Japan rising 1.47% in afternoon trade while the Topix index climbed 1.19%. On Monday, markets in Hong Kong closed and Singapore shut down early due to the Lunar New Year Holidays.

Monday’s official data showed that Chinese factory activity declined in January. Official data from China showed that January’s manufacturing purchasing managers’ index was 50.1, which is just below the 50 threshold, which distinguishes between growth and contraction. The weekend’s private survey showed that Chinese manufacturing activity declined in January.

Meanwhile, U.S. stock futures were higher in overnight trading on Sunday as investors braced for the final trading day in what could be the worst month for the S&P 500 since March 2020. Investors are worried about inflation and supply chain problems, as well as the Federal Reserve’s upcoming rate increases. Markets were roiled in January by volatile trading.

Fed indicated Last week, the Federal Reserve indicated that they are likely to increase interest rates to counter historically high inflation. Markets are now pricing in five quarter-percentage-point interest rate hikes in 2022 with the first coming in March.

Europe’s investors are watching developments in Russia and Ukraine closely. The UN Security Council will meet Monday to address tensions that continue between Russia, Ukraine. This is despite a significant increase of troops on Russia’s borders with Ukraine.

From where do you earn your earnings? RyanairOn Monday, data releases will include preliminary fourth quarter GDP (gross Domestic Product) data for Europe and preliminary January inflation data from Germany and Spain.

— CNBC’s Maggie Fitzgerald and Eustance Huang contributed to this market report.