European stock markets pushed higher Monday helped by gains from the oil majors as crude prices soared, while hopes for a global recovery from the Covid-19 pandemic also supported financial stocks.. At 3:55 AM ET (0855 GMT), the DAX in Germany traded 0.9% higher, the CAC 40 in France rose 0.7% and the U.K.'s FTSE index climbed 0.6%. The heavily-weighted oil majors helped push the overall markets higher, with BP (NYSE:BP), Royal Dutch Shell (LON:RDSa) and Total all posting stock gains of over 1%.
European stock markets are seen opening mixed Monday, with investors fretting about higher U.S. Treasury yields even as hopes for a global economic recovery from the Covid-19 pandemic grow. At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.3% lower, CAC 40 futures in France climbed 0.8% and the FTSE 100 futures contract in the U.K. fell 0.2%. Optimism is growing that a global economic recovery from the ravages of the Covid-19 pandemic is just around the corner.
Following impressive trade figures from China on the weekend, economic data from Germany will be in focus later today. There are no stats from the U.S to influence.