Europe stocks open to close Jun 3: bond yields, stocks, data

[Pelican Press 0]

Europe stocks open to close Jun 3: bond yields, stocks, data

The ********* Central Bank headquarters.

Daniel Roland | Afp | Getty Images

********* markets started the month higher Monday, extending last week’s rally, as investors look ahead to the ********* Central Bank’s latest interest rate decision later this week.

The pan-********* Stoxx 600 index was 0.9% higher in opening deals, with all sectors and major bourses in the green. Tech stocks led gains, up 1.6%, while the travel and leisure sector was also 1.5% higher.

The ECB is widely expected to cut interest rates for the first time since 2019 when policymakers meet on Thursday. This is notable as it would mean the central bank moved before the U.S. Federal Reserve, which tends to lead the way in monetary policy.

However, investors will watch closely to see whether a slightly higher-than-expected euro zone inflation print released Friday will alter the bank’s path forward.

Monday’s session will see the release of Turkish inflation data, and manufacturing data from Spain, France and Germany. There are no major corporate earnings due during the session.

Meanwhile, investors will be keeping an eye on oil prices, which rose after 

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 agreed on Sunday to extend most of its oil output cuts into 2025.

In Asia-Pacific, stock markets rose on the back of accelerating factory activity, with China’s Caixin survey showing manufacturing activity expanded at its fastest pace in nearly two years.

U.S. stock futures also started the month in positive territory, coming off the back of a strong May in which all three major averages notched their sixth positive month in seven.

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