October 4, 2022

LONDON — European markets are set to move cautiously on Monday as investors continue to monitor corporate earnings and key economic points, assessing the risk of a recession.

Britain’s FTSE 100 appears about 19 points higher at 7,459, Germany’s DAX is expected to gain about 54 points to 13,628 and France’s CAC 40 is expected to add about 21 points to 6,493.

The pan-European Stoxx 600 index closed Friday’s session down about 0.8 percent, after an unexpectedly strong U.S. jobs report dampened expectations for a recession and in turn raised the possibility that the Federal Reserve will tighten monetary policy more aggressively to reduce inflation.

Asia-Pacific markets were mixed overnight, with Hong Kong’s tech-heavy Hang Seng weighing on the region.

U.S. stock futures were flat after the S&P 500 closed for a third consecutive positive week, with investors turning their attention to a key inflation report on Wednesday.

On the data front in Europe, August’s Sentix economic sentiment index for the eurozone is due on Monday morning.

Corporate earnings continue to drive individual share price movement in Europe, with Siemens Energy, Porsche and BioNTech among companies reporting before the bell on Monday.

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