European markets head for flat open amid lackluster global sentiment

  • European stocks are expected to open in mixed territory on Tuesday with global markets all showing lackluster sentiment.
  • London's FTSE is seen opening 1 point higher at 7,005, Germany's DAX up 4 points at 15,390, France's CAC 40 up 2 points at 6,294 and Italy's FTSE MIB up 42 points at 24,465, according to IG.

LONDON — European stocks are expected to open in mixed territory on Tuesday with global markets all showing lackluster sentiment.

London's FTSE is seen opening 1 point higher at 7,005, Germany's DAX up 4 points at 15,390, France's CAC 40 up 2 points at 6,294 and Italy's FTSE MIB up 42 points at 24,465, according to IG.

European markets look set to follow a pattern of uncertain sentiment elsewhere overnight; U.S. stock futures rose only slightly in overnight trading on Monday, as investors prepare for the next batch of corporate earnings. Earnings season continues in the U.S. Tuesday with streaming giant Netflix set to report after the bell.

Major U.S. averages fell on Monday, dragged down by overall weakness in the technology sector. The Dow Jones Industrial Average lost more than 120 points, dragged down by more than a 1.5% drop in Intel's stock.

Meanwhile, shares in Asia-Pacific were mixed in Tuesday trade as China kept its benchmark lending rate unchanged. Elsewhere, the Nifty 50 in India gained 0.75%. The country's Covid cases continue to climb, with 273,810 new daily infections registered on Monday.

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Investors in Europe will be keeping an eye on earnings reports in the region; these come from Kering, Danone, Atos and Associated British Foods, which presents interim results for Primark, while Rio Tinto releases a first-quarter operations review.

Data releases in Europe on Tuesday include U.K. unemployment figures for February, German producer prices for February and Russia's unemployment rate for March.

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