European stocks set to bounce on vaccine rollouts and recovery hopes
- European stocks are set for a positive handover from Asia-Pacific, where Japan's Nikkei 225 surged past the 30,000 level for the first time in over 30 years.
- Markets in China, Hong Kong, Taiwan as well as the U.S. are closed on Monday for holidays.
LONDON — European markets are set to open higher on Monday after a rally in Asian shares overnight, with successful vaccine rollouts fueling hopes of a global economic recovery.
Britain's FTSE 100 is seen around 47 points higher at 6,637, Germany's DAX is set to climb around 100 points to 14,149, France's CAC 40 is expected to gain around 37 points to 5,741 and Italy's FTSE MIB is set to open around 217 points higher at 23,628, according to IG data.
European stocks are set for a positive handover from Asia-Pacific. Japan's Nikkei 225 surged past the 30,000 level for the first time in more than 30 years, after government data showed the Japanese economy growing 12.7% on an annualized basis between October and December 2020.
Markets in China, Hong Kong, Taiwan as well as the U.S. are closed on Monday for holidays.
Oil prices spiked overnight amid fears of an escalation of tensions in the Middle East, after a Saudi-led coalition fighting in Yemen claimed to have intercepted an explosive drone fired by an Iranian-backed Houthi rebel group. Brent crude was up 1.84% at $63.57 per barrel early on Monday morning in Europe.
Back in Europe, the U.K. has now issued a first Covid-19 vaccine dose to more than 15 million people across all four of its top priority categories, in what Prime Minister Boris Johnson described over the weekend as an "extraordinary feat."
In Spain, Catalan separatist parties increased their majority in the Catalonian regional parliament on Sunday, despite a strong showing from the local branch of the country's ruling Socialist Workers' Party, setting up potential negotiations between regional separatists and Madrid.
In corporate news, Danone board members are set to meet with U.S. investment firm Artisan Partners, which is exerting pressure for a board shakeup, Reuters reported Sunday citing a source close to the matter.
Euro zone finance ministers will meet virtually on Monday to discuss the bloc's economic recovery.
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