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Lack of positivism before the European trading session
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Loading...European stocks are expected to drift lower Tuesday as investors rekindle political concerns in the region.
Britain's FTSE 100 will open for the first day of trading since Friday with a modest 16 point pullback, according to financial bookmakers IG, while benchmarks in Germany and France will likely fall by around 0.1% at the opening bell.
Much of the early market focus, however, will remain on currency markets and the euro, which was marked 0.35% lower against the U.S. dollar at 1.1127.
Airline stocks are likely to be active at the open of trading after a weekend of chaos at London's Gatwick and Heathrow airports caused delays and cancellations for thousands of travellers following a global IT failure that could cost British Airways more than £100 million.
The oil also fell below $50 a barrel.
The pound is decreasing after yesterday comments from Theresa May. Prime Minister Theresa May will tomorrow accuse the European Commission of taking an “aggressive negotiating position” on Brexit, after EU officials released two papers setting out details of their approach.
May insisted repeatedly that as Prime Minister after the election on 8 June she would be prepared to leave the EU without negotiating a deal on trade. She said: “I’m not prepared to sign up to a bad deal with the EU.”
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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