European stocks are expected to open in mixed territory on Friday despite a continuing recovery in global stocks after the Brexit vote.
The London UKX is called to open 13 points higher at 6,591, the German DAX down 1 point at 9,775 and the French CAC down 7 points at 4,267, according to IG.
On Sunday, George Osborne said he is planning to cut corporation tax to under 15% from the current 20% in attempt to stimulate foreign investors. This will support UKX and increases are expected to continue.
Italian banks stay under pressure.
Shares of carmaker Volkswagen will be watched on Monday after the company's chief executive Matthias Muller rejected compensation calls for European customers in the wake of the 'Diesel-gate' emissions scandal. In an interview with German newspaper Welt am Sonntag, Muller said that there was a "different situation here in Europe."
Today we will expect data from UK about Construction PMI at 11:30, as expectations are for less than current levels. Worse than expected data will be negative for GBP.
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