European stock markets are poised for a higher opening on Monday, driven by heightened expectations over the weekend for a potential agreement between the United States and Iran.
Futures data from IG Group indicates that France's CAC 40 index is expected to rise by 0.9%, while Germany's DAX index is projected to gain 1.1%. The UK's FTSE 100 index will remain closed due to a public holiday.
European markets are following the upward trend in Asian markets, where Japan's Nikkei 225 index surpassed the 65,000-point milestone for the first time on Monday.
In thinly traded Asian markets, investor sentiment received a boost from news suggesting the critical Strait of Hormuz may reopen soon, leading to a decline in oil prices and propelling Japan's benchmark stock index to a record high.
In a post on Truth Social, former President Donald Trump stated that negotiations with Iran are "proceeding in an orderly and constructive manner," adding that he has instructed U.S. representatives "not to rush into an agreement, as time is on our side."
Following Trump's remarks, oil prices fell by over 5%, alleviating some pressure on investors.
European stocks are on track to extend their gains for a fifth consecutive trading session, continuing the positive momentum from last Friday.
Comments