LONDON – European stocks are expected to open in mixed territory on Monday as the market focus on negotiations between the UK and the EU in the post-Brexit trade deal.
London’s FTSE was down 7 points at 6,546, Germany’s DAX was up 41 points at 13,156 and France’s CAC40 was up 24 points at 5,531.
Britain and the European Union agreed to negotiate a Brexit trade deal on Sunday, with key differences being negotiated over the wire. Sterling bounced the news, but UK Prime Minister Boris Johnson warned businesses to be ready to leave “no deal” when the transition period ends on December 31.
Johnson and European Commission President Ursula van der Leyen said they would decide on Sunday whether there was enough progress to continue the qualifying talks.
In other news, Germany will go into complete lockout at Christmas amid rising Corona virus deaths and infections. Essential shops and schools will be closed across the country starting Wednesday.
“We expect friends, relatives and acquaintances to be able to meet a maximum of five people and two homes, with the exception being the Christmas holidays from December 24 to 26, but not on New Year’s Eve and New Year’s,” German Chancellor Angela Merkel said this weekend.
Among US corona virus developments, CDC Director Robert Redfield signed Pfizer’s Govt-19 vaccine, which allows vaccinations for people 16 or older to officially progress on Monday. It came following FDA emergency approval for Pfizer’s vaccine last week. The United States has begun shipping quantities to hundreds of distribution centers across the country.
U.S. stock futures rose in overnight trading on Sunday as markets indicated a return from a losing stock week. Investors are weighing in on the release of the Govt-19 vaccine and updates on the corona virus trigger in Washington.
Meanwhile, Asia-Pacific stocks rose mostly in Monday trading as investors in the region approved Pfizer’s Govit-19 vaccine in the United States.
Eurozone industrial output data for October are due on Monday; No revenue was expected.
Subscribe CNBC Pro For exclusive intelligence and analysis and live business day programming around the world.