European Markets opened lower despite earnings

European shares down

The European markets are set to open lower in today’s early morning session as investors pay close attention to corporate earnings.

Looking to the major bourses, The U.K.’s FTSE 100 is expected to open 27 points lower at 7,480 while the German DAX is set to start the trading week in the red zone with a decrease of 17 points at 13,206 and the French CAC poised to open down 10 points at 5,487.

The corporate earnings season continues to be in full swing, as several companies scheduled to post their latest figures, Bankia and Glencore were both scheduled to report on Monday. While Technology stocks were supported by solid earnings from the U.S. tech giants in the previous session.

Ahead of its scheduled earnings report later in the Trading week, Apple stated that pre-orders for the much awaited 10th anniversary iPhone X are of the charts. While Alphabet, Amazon and Microsoft shares all surged in the previous trading session on the back of robust quarterly performances.

In Europe, Spain moved to sack Catalonia’s regional government leader on Friday, shortly after Catalonia had declared independence from Spain. Madrid also displaced the Catalan parliament and called for fresh regional elections.

Spain’s IBEX was prepared to open more than 46 points higher at 10,233 on Monday morning.

In other news, Oil markets are found to trade in solid grounds, with Brent remaining above $60 per barrel as OPEC-led production cuts lead it into even better positions.


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