Tax Authority issues new instructions on offsetting credit, debit balances    Cairo targets African export markets with new defence production agreements    AOI expands cooperation with leading French defence firms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    EGX closes in green area on 3 Dec    Egypt's Petroleum Min. promotes mining investment in London with new incentives    Egypt recovers two ancient artefacts from Belgium    Oil prices edged lower on Wednesday    Egypt begins training Palestinian police as pressure mounts to accelerate Gaza reconstruction    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Health Minister leads high-level meeting to safeguard medicine, medical supply chains    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European markets set for a positive open as oil prices climb
nada nasser Published in Amwal Al Ghad on 07 - 05 - 2018

European markets are expected to tick higher on Monday, boosted by a solid session seen out of Asia and crude markets.
Looking to Europe, the CAC is expected to open 22 points higher at 5,538, while the DAX is poised to start the day up 58 points at 12,877, according to IG. Peripheral markets such as Italy's FTSE MIB and Spain's IBEX are both pointing to a higher open, while in the U.K., markets will be closed due to a public holiday.
After a tepid U.S. jobs report on Friday, global markets are turning their attention to the commodities space on Monday.
Oil futures touched their highest level since late 2014 on Monday, with U.S. WTI jumping above $70 per barrel on Monday and Brent crude rising as high as $75.89 — the highest it has been since November 2014.
Prices were climbing on the back of concerns surrounding Venezuela's oil exports and the future of the Iran nuclear deal. At 6:30 a.m. London time, Brent hovered around $75.60 per barrel, while U.S. WTI jumped to the $70.35 mark. Consequently, oil stocks will be in key focus during Monday's session in Europe.
In the latest surrounding the nuclear deal, President Hassan Rouhani stated that Iran had a plan to counter any move made by the U.S. President when it comes to the 2015 nuclear agreement.
Trump has set a deadline of May 12 for the deal to be changed or has said he could withdraw the U.S. from it. On Sunday, Iran's Rouhani went on to add that the U.S. would be "making a mistake" is it chose to exit the accord; Reuters reported.
Elsewhere, officials from China and the U.S. finished two days of negotiations last week without a deal on trade or another date set for future talks. The U.S. administration has demanded a $200 billion cut in the Chinese trade surplus, along with advanced technology subsidies and lower tariffs; Reuters reported.
In central banking news, Peter Praet, chief economist at the European Central Bank, is set to deliver remarks at the SFAA Swiss Financial Analysts Association event in Geneva, Switzerland.
On the data front, retail purchasing managers' index data for the euro zone is scheduled to come out during morning trade.
Source: CNBC

Clic here to read the story from its source.