European stocks are expected to open lower Monday amid anti-racism protests and concerns over a resurgence of the coronavirus in Asia and the U.S. as lockdowns are eased.
London’s FTSE is seen 34 points lower at 6,054, Germany’s DAX is expected to open 96 points lower at 11,835, France’s CAC 40 is seen 42 points lower at 4,783 and Italy’s FTSE MIB is seen 278 points lower at 18,675, according to IG.
Markets in Europe are expected to follow their Asian and U.S. counterparts lower as concerns over a second wave of coronavirus cases dominate market sentiment. Asian stocks traded lower Monday and U.S. stock futures fell in early morning trading on Monday, pointing to more losses ahead.
The pullback comes after states including Alabama, California, Florida and North Carolina report a rise in daily new coronavirus cases. Texas and North Carolina reported a record number of virus-related hospitalizations Saturday.
Meanwhile, protests against racism and police brutality, that started following the death of George Floyd in police custody in Minneapolis last month, continued in the U.S. and Europe. Tensions have risen further after the death of Rayshard Brooks, a black man killed by a white police officer in Atlanta on Friday. The Fulton County Medical Examiner’s office said on Sunday that the death was a homicide, Reuters reported.
In Europe, attention will also be on travel restrictions being lifted between most European countries on Monday while in the U.K., nonessential shops are allowed to reopen as long as social distancing measures are in place.
On the data and earnings front, retailer H&M gives a second-quarter sales update and the euro zone’s trade balance for April is released.