European markets set for positive open; China Evergrande trading halt watched

view original post

European stocks are expected to open broadly in positive territory on Monday as markets head into the first full trading week of October.

The U.K.’s FTSE index is seen opening 21 points higher at 7,040, Germany’s DAX 11 points higher at 15,137, France’s CAC 40 up 9 points at 6,506, according to IG data.

European markets look set to start the month after a tricky September, with concerns around inflation, Federal Reserve tapering and rising interest rates dominating sentiment. The 10-year U.S. Treasury yield topped 1.56% last week, its highest point since June.

Asian markets were mixed on Monday, with Hong Kong’s Hang Seng index tumbling more than 2% as trading in shares of China Evergrande was halted as investor concern surrounding the indebted property developer returned.

Trading in the shares of Evergrande Property Services was also halted. There were no reasons given for the trading halts. At the same time, the shares of another Chinese property developer Hopson were also suspended.

Stock picks and investing trends from CNBC Pro:

There are no major earnings or data releases on Monday. Events of interest, however, include a meeting of euro zone finance ministers on Monday to discuss matters including the EU’s recovery plans, banking union and fiscal policy.

Oil markets will be tracking a meeting of OPEC and non-OPEC ministers too.

Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now

— CNBC’s Eustance Huang and Maggie Fitzgerald contributed to this market report.