European Stocks Seen Higher

European stock markets opened higher on Monday, supported by signs of recovery from China, along with the continued corporate earnings season. However, it gave up some of those gains with negative news about COVID-19 cases and tensions between the United States and China.

At 06:05 GMT, DAX futures in Germany rose 0.3%, FTSE 100 futures in the UK rose 0.4%, while the French CAC Index rose 0.1%.

Earnings at China’s large industrial companies in June rose at the strongest pace since March last year, surging 11.5% from a year earlier in June, nearly doubling the 6.0% increase in May, the National Bureau of Statistics said Monday.

On the other hand, gold futures rose 1.8% to $ 1,930.75 an ounce, not far from the highest level of 1,937.60 posted on Monday, exceeding the peak reached in September 2011 while EUR/USD traded to 1.1705, up by 0.4%