European stocks open higher; aided by positive Chinese data
European stock markets traded slightly higher earlier on Monday, boosted by positive Chinese market data. However, gains were regarded as tentative due to the reemergence of COVID-19 cases in the region, further conveying signs of economic weakness.
DAX futures in Germany gained 0.5% at 2:05 AM ET (0605 GMT), while CAC futures in France rose by 1.3%. Meanwhile, FTSE 100 futures in the U.K. inched up by 0.4%.
Data over the weekend showed an increase in profits at China’s for the fourth consecutive month in August, suggesting that the economic recovery in the second-largest economy in the world was well entrenched.
Investors are currently keeping a wary eye on the latest Brexit talks, with the final round of scheduled discussions between the EU’s chief Brexit negotiator, Michel Barnier, and his British counterpart, David Frost, beginning in Brussels on Tuesday.