European equities are expected to open lower despite a solid U.S. jobs report on Friday as investors digest the latest economic targets from China.
The London FTSE 100 index is called to open 34 points lower at 6,165, the German DAX down 54 points at 9,770 and the French CAC down 15 points at 4,441, according to IG.
Europe look set to buck the positive trend set in the U.S. on Friday and in Asia on Monday where stocks were mostly higher as investors digested the latest nonfarm payrolls from the U.S.
The nonfarm payrolls report released on Friday showed the creation of 242,000 jobs in February, topping expectations. The unemployment rate was unchanged at 4.9 percent, while the labor force participation rate was 62.9 percent.
U.S. stocks ended a choppy Friday session with gains, helped by a rise in oil prices and the jobs report that showed economic growth without necessarily inducing the Fed to raise rates earlier.
Asia markets were also boosted by new economic targets announced by China at the National People's Congress (NPC) meeting over the weekend.
The targets included a revised growth target of between 6.5 and 7 percent, a consumer price index growth target of around 3 percent and a budget deficit at 3 percent of gross domestic product (GDP), Reuters reported.
There are no major earnings due on Monday.
CNBC
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