Global Markets Stabilize, European Stocks Set for Higher Open

Deep News02-03 15:31

Following a brief sell-off in cryptocurrencies and precious metals, global markets have steadied, with European stocks projected to open broadly higher on Tuesday.

According to IG data, the UK's FTSE index is expected to open flat, while Germany's DAX index is seen up 0.5%, France's CAC 40 index gaining 0.6%, and Italy's FTSE MIB index rising 0.4%.

Market sentiment has stabilized globally after several days of volatility, with prices for gold, silver, and the cryptocurrency Bitcoin experiencing significant declines from Friday through the weekend, although precious metal prices managed a rebound on Monday.

The new trading month started robustly for U.S. stocks, with S&P 500 futures advancing during Monday's evening session.

Concurrently, U.S. President Donald Trump announced that the United States has reached a trade agreement with India, stating that Indian Prime Minister Narendra Modi has agreed to increase purchases of American products, which spurred gains in Asia-Pacific markets overnight.

In a post on Truth Social, Trump claimed the agreement also stipulates that India will cease buying Russian crude oil, instead increasing its imports from the United States and potentially sourcing more oil from Venezuela. Influenced by Trump's remarks, India's benchmark Nifty 50 index opened Tuesday's session with a 5% surge.

In Europe, Publicis Group is scheduled to release its earnings report, while economic data due for release includes French inflation figures and Spanish unemployment numbers.

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