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European markets are seen opening higher on Monday, with investors hopeful of progress in the U.S.-China trade dispute.
Britain’s FTSE 100 is set to climb 24 points at the open to 7,350, Germany’s DAX is seen 74 points higher at 13,234 and France’s CAC is expected to open up 29 points at 5,915, according to IG index data.
U.S. National Security Advisor Robert O’Brien on Saturday said a so-called “phase one” deal with China could still be reached by the end of the year. However, he also emphasized that Washington would not turn a blind eye to the Hong Kong protests.
The embattled city saw the opposition pro-democracy movement make significant gains in local elections this weekend, with Hong Kong’s democrats securing a symbolic majority as residents turned out in record numbers to vote.
In Asia, shares rose as traders monitored the outcome of the Hong Kong vote. The MSCI Asia ex-Japan index gained over 0.3%.
Back in Europe, Britain’s two main political parties have now both launched their manifestos in separate bids to win over the public ahead of a crucial Dec. 12 election.
The opposition Labour party kicked things off last Thursday with a manifesto promising a windfall tax on oil companies and renationalization of some industries, while the Conservatives launched their own plan for the U.K. that would see 50,000 additional nurses in the National Health Service by the end of Parliament.
In corporate news, France’s LVMH has reached a deal to buy U.S. luxury jeweler Tiffany & Co. for $16.3 billion, sources familiar with the matter told CNBC’s David Faber.
As for economic data, investors will be monitoring German business sentiment figures due to be released by the Ifo Institute Monday morning.