European Stock Futures Higher; Pressure on Fed Eases After Payrolls

European Stock Futures Higher; Pressure on Fed Eases After Payrolls

European stock markets are seen opening higher Monday, following the global trend, with investors sanguine about the economic recovery despite Friday’s disappointing U.S. employment report.

At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France climbed 0.3% and the FTSE 100 futures contract in the U.K. rose 0.3%.

That said, gains aren’t likely to be substantial after the European Central Bank’s chief economist stated that the road to recovery from the coronavirus would be long for the Eurozone.

Philip Lane told French newspaper Le Monde that the unemployment rate in the bloc wouldn’t return to its 2019 level before 2023, while the Eurozone’s gross domestic product will not return to its 2019 level before spring next year.

The pan-European Stoxx 50 climbed up by 0.87% to 4,034.3. In the cash markets, the DAX futures Germany was trading up 1.34% to 15,399.65. CAC 40 futures in France up by 0.45% to 6385.50 while the FTSE 100 futures in the U.K. up 0.24% at 7,154.1, at the time of writing.

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