LONDON. European stocks are expected to open higher on Monday ahead of further talks between Russian and Ukrainian negotiators.
According to IG data, the UK FTSE opened 14 points higher at 7160, the German DAX rose 64 points to 13721, the French CAC 40 rose 24 points to 6296 and the Italian FTSE MIB rose 48 points to 22498.
The attention of the whole world remains focused on the war in Ukraine after the fierce fighting around Kyiv that took place over the weekend, when Russian troops shelled cities across the country, killing civilians who could not escape. Russia also attacked a Ukrainian military training center near the Polish border on Sunday, killing 35 people and injuring 134.
The sanctions continue to hit Russia hard as the financial impact of Moscow’s invasion is expected to become more pronounced in the coming days ahead of a scheduled sovereign bond payment.
Negotiations are under way again on Monday to establish a firm ceasefire and find room for any compromise between Russian and Ukrainian demands, although previous discussions have ended in failure.
The US Federal Reserve is also in the spotlight this week as it is expected to raise its federal funds rate target by a quarter of a percentage point from zero at the end of its two-day meeting on Wednesday.
Investors are also looking to the central bank for its new forecasts for rates, inflation and the economy, given the uncertainty due to the escalation of geopolitical tensions.
U.S. stock futures edged higher in overnight trading, while Asia-Pacific stocks were mixed in Monday trading as investors watch the wave of Covid in China.
There will be no major earnings or data reports in Europe on Monday.
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– Yun Li of CNBC contributed to this market report.