European stocks set for a positive open, political risk on the continent remains

11.10.2017 / 09:33

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European stocks look set for a positive open on Wednesday though political risk on the continent remains.

The German DAX leads the charge higher, seen up 18 points at 12,967. The U.K. FTSE is set to open up 14 points at 7,553 while the French CAC looks to begin the day's trading 8 points to the upside at 5,372.

The Spanish government is meeting in the capital Madrid today to shore up its response to the Catalan independence movement. Socialist opposition leader Pedro Sanchez is also set to convene with Prime Minister Mariano Rajoy. The prospect of talks means that the Spanish IBEX looks set to begin trading up 68 points at 10,304.

Catalan President Carles Puigdemont and other leaders in the region yesterday signed a document proclaiming independence from Spain, although they also suspended the move for the coming weeks, following an unofficial referendum earlier this month that led to unrest and a loss of business confidence in the region.

Meanwhile in the U.K., Prime Minister Theresa May is to face opposition Labour leader Jeremy Corbyn at Prime Minister's Questions in parliament for the first time this season. Yesterday, May said that an agreement with the European Union to secure the rights of expats living in the country post-Brexit was "very close."

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

Varchev Traders

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European stocks set for a positive open, political risk on the continent remains

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