European markets are set for a higher open Tuesday as investors look for an exit strategy to the region’s coronavirus lockdowns.
London’s FTSE is seen opening 74 points higher at 5,913, Germany’s DAX is expected to open 167 points higher at 10,729 and France’s CAC 40 is seen 75 points higher at 4,550, while Italy’s FTSE MIB is seen 303 points higher at 17, 808, according to IG.
European countries, among those Italy and Spain that have been some of the worst affected by the coronavirus, are now looking to lift some restrictions on public life as the number of new infections and daily deaths has declined.
Spain allowed some construction and manufacturing sites and to reopen Monday and Italy is also allowing some businesses to reopen Tuesday. Meanwhile, Germany is considering how to implement a gradual recovery from the coronavirus pandemic, the country’s health minister told CNBC on Monday.
“We are thinking about step by step, that is important … going back to a new normal,” Jens Spahn said on “Closing Bell.”
Stocks in Asia edged higher in Tuesday morning trade following the release of Chinese trade data for March.
China reported that its dollar-denominated exports and imports both fell from a year ago in March, but they were better than what economists had expected. China’s exports fell 6.6% in March from a year ago, while imports slipped 0.9% in the same month, data from the General Administration of Customs showed on Tuesday.
There are no major earnings or data releases Tuesday.
— CNBC’s Kevin Stankiewicz and Huileng Tan contributed reporting to this story.