European stocks were higher on Monday as investors braced for a series of key corporate earnings and US data this week.
“Markets remain calm ahead of today’s Tesla profits, marking the shift to reports from an important part of the market – the big tech names,” said Chris Beauchamp, IG’s chief market analyst.
“As such a large part of the S&P 500, data from FANG stocks could prove critical to the sustainability of the current upside in stocks. Tesla the burden has a lot of attention and will set the tone for the days to come. “
Other U.S. heavyweight corporate weights due this week include: Apple, Microsoft, Amazon and google parents alphabet.
The pan-European Stoxx 600 index rose 0.26% to 440.2, while the German DAX rose 0.11% to 15,296.34.
Things were livelier on the periphery of the euro area, with the FTSE Mibtel up 0.52% to 24,513.84.
The Spanish Capricorn 35 rose 0.97% to 8,701.9.
The increase in airline shares and benchmarks for the periphery in general was a comment from the European Commission head, who said that vaccinated tourists may be allowed to resume travel in the summer.
“As far as I can see, Americans use vaccines approved by the European Medicines Agency,” Ursula von der Leyen said in an interview with the New York Times on Sunday.
“This will enable freedom of movement and travel to the European Union.”
Shares in German Lufthansa, easyJet, Ryanair and aircraft engine manufacturers Rolls Royce were higher in the news. Travel company TUI also won.
This increased the Stoxx 600 index for the travel and leisure sector by 1.76%.
Beauchamp also pointed to capping gains for corn and wood futures as the current focus is on inflation and commodity prices.
In a non-independent note, he also predicted that the US dollar’s weakness is likely to continue.
Mining stocks have since been boosted by a 10-year high for Shanghai copper prices and a surge in other metals.
The Stoxx 600 Basic Resources ad gained 1.88%.
In other stock news Tate & Lyle Shares rose as the company confirmed plans to sell a controlling stake in its sweeteners division.
Pearson Shares rose as Bildungsverlag posted sales up 5% in the first quarter.
Shares in I were also major winners as the engineer announced a £ 200 million share buyback and raised his forecast for full year results after group performance improved in the first quarter.
