European markets head for mixed open following the global trend

DAX down 34 points at 15,202, France’s CAC 40 down 18 points at 6,290 and Italy’s FTSE MIB 41 points lower at 24,379, according to IG.
European stocks are expected to open in flat-to-lower territory on Tuesday, following similarly mixed sentiment elsewhere.

London’s FTSE is seen opening 3 points lower at 6,973, Germany’s DAX down 34 points at 15,202, France’s CAC 40 down 18 points at 6,290 and Italy’s FTSE MIB 41 points lower at 24,379, according to IG.

The broadly negative start to the trading session expected for Europe follows a similar pattern in the U.S. and Asia Pacific, where stocks were mixed in Tuesday morning trade with major markets in Japan and China still closed for holidays.

Meanwhile, U.S. stock futures were flat in overnight trading on Monday after a strong start to May as investors piled into shares that would benefit the most from an economic reopening.

Investors also continued to monitor the Covid-19 situation in India as it shows little signs of slowing. The World Health Organization said last week that one in every three new coronavirus cases globally is being reported in India.

In the U.S., states continued to relax pandemic restrictions amid the vaccine rollout. New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.

Earnings and data releases being watched in Europe on Tuesday include Saudi Aramco’s first-quarter earnings and the latest results from Infineon, Deutsche Post DHL Group and Siemens Energy.

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