European markets are set to open higher on Monday, after U.S. Treasury Secretary Steve Mnuchin said he was hopeful trade talks with China would soon come to a close.
The FTSE is set to open 7 points higher at 7,444, while the CAC is expected to open 5 points higher at 5,508. Germany's DAX is set to start higher by 25 points at 12,023, according to IG.
Mnuchin said Saturday that a U.S.-China trade deal would go"way beyond" previous agreements between the two nations, and that the two sides were"close to the final round" of negotiations, Reuters reported. Asian markets reached 9-month highs on Monday, with MSCI's broadest index of shares outside Japan up by 0.6% — its highest since late July. Japan's Nikkei gained almost 1.5%.
Market focus is also attuned to corporate earnings, with several U.S. companies set to release their first-quarter earnings this week. Big banks Citigroup and Goldman Sachs are expected to report their earnings on Monday.
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