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European markets are set for a higher open today

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European markets opened in positive territory despite declines by Asian hours.

France's CAC is expected to open 3 points higher at 4831, the German DAX  3 points higher at 11450 and London FTSE 9 points higher at 7053 price.

The banking sector in Europe remains under pressure despite the agreement of Deutsche bank for 7.2 billion dollars with DOJ on the case with unlawfully granted mortgage loans. Another bank that remains in investors focus is Monte dei Paschi and despite government bailout will have a negative impact on the sector.

Liquidity remains low and also in Asian hours was observed reduction in risk appetite, as oil prices fell and gold traded with a slight increase forming probably short term bottom.

At the beginning of the European session we will focus our attention on Consumer confidence data from Germany at 09:00 and GDP of France at 09:45. 11:30 expect the GDP of the UK.


 Varchev Traders

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