October 26, 2020

Market and Financial News Aggregator

European Stocks May Rebound, But Likely To Struggle To Hold Gains

2 min read

After two successive days of losses, European stocks may see some upside during the course of the session on Monday.

However, a sustained rise may remain elusive due to lingering worries about coronavirus cases and uncertainty about the pace of economic recovery despite some recent positive data from the U.S. and China.

Data on German industrial production, French current account deficit and eurozone investor confidence are likely to provide some direction to European markets on Monday.

Continued uncertainty about a Brexit deal, coronavirus cases and progress in U.S. stimulus package are some of the other key factors that would determine the trend in European markets.

Investors will also be tracking earnings reports and other corporate news for direction.

On the economic front, Destatis is slated to issue Germany’s industrial output data for July at 2 am ET. Economists forecast production to grow 4.7% on month, slower than the 8.9% increase in June.

Data on industrial output from Norway and foreign trade figures from Finland are also due around the same time.

At 2.45 am ET, France current account data for July is due, and at 3 am ET, the Czech Statistical Office is scheduled to publish industrial production and foreign trade figures for July.

The UK Halifax house price data is due at 3.30 am ET.

Finally, at 4.30 am ET, Eurozone Sentix investor confidence survey data is due. The investor sentiment index is seen at -10.5 in September versus -13.4 in August.

European markets recovered from early lows on Friday, but eventually ended the day’s session on a weak note due to a sell-off in the closing minutes.

The U.K.’s FTSE 100 lost 0.88%, France’s CAC 40 slid 0.89% and Germany’s DAX fell 1.65%. The pan European Stoxx 600 ended down 1.13%.

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2020-09-07 01:38:22


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