LONDON – European equities are predominantly higher on Monday morning, reflecting trade in global markets.
The pan-European Stoxx 600 added 0.14% in early deals, with travel and leisure stocks up 0.7% to make a profit, while the food and beverage sector declined 0.4%.
The positive start for European markets continues cautiously optimistic trading in the Asia-Pacific markets on Monday, with investors looking to Alibaba’s shares in Hong Kong following a new development between affiliate Ant Group and billionaire founder Jack Ma.
Hong Kong-listed shares of Alibaba fell 1.7% on Monday after Ant Group said in a tweet that a recent Reuters report that the company was looking for ways to leave Jack Ma was “untrue and baseless.”
US stock index futures were mixed during early morning trading on Monday, after the S&P 500 and Dow Jones Industrial Average closed at record highs on Friday.
The earnings season kicked off last week when major US banks reported quarterly results, and many companies will provide updates this week. Ten Dow components will report, along with 72 S&P 500 companies. Coca-Cola, IBM and United Airlines are among the companies that will report their earnings on Monday.
The eurozone current account and construction output data are scheduled for February; no other significant data releases or revenues are expected.
In terms of individual share price movements, online betting operator Kindred Group climbed 5% early in trading to lead the Stoxx 600.
At the lower end of the index, Italian CNH Industrial fell 4.5% after closing talks to sell its truck manufacturer Iveco to Chinese FAW.
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CNBC’s Eustance Huang and Pippa Stevens contributed to the reporting of this story.