VIENNA (Alliance News) - European stocks are seen inching higher on Monday as investors await a slew of European and US data for further clues to the monetary policy outlook.
A report on German retail sales is slated for release later in the day, with economists expecting sales to rise 1% year-over-year in May after the 3.2% increase in April. Eurostat publishes its flash estimate on consumer inflation, with the annual inflation seen quickening to 0.6% in June from 0.5% in the previous month.
The Bank of England will release data on U.K's mortgage approvals, consumer credit, secured lending and money supply at 4.30 am ET. Mortgage approvals are expected to drop to 61.6 thousand in May from 62.9 thousand in April.
The European Central Bank holds its policy meeting on Thursday, with the central bank unlikely to announce any policy measures after cutting rates to record lows last month.
Across the Atlantic, investors eye key reports on manufacturing, service-sector and non-farm payrolls this week for clues on the outlook for US interest rates.
The Asian markets are trading mostly higher, taking a positive lead from Wall Street on Friday.
Crude prices eased in Asian deals as Iraq said it has received the first batch of fighter jets it had ordered from Russia for fighting the Sunni rebels who have seized large parts of the country. Defense ministry officials were quoted as saying that the aircraft would enter into service within three or four days.
In news out of Ukraine, President Petro Poroshenko announced the extension of ceasefire with pro-Moscow rebels in the east until Monday even as fierce fighting continued in some parts of eastern Ukraine. Welcoming the measures toward de-escalation of hostilities, United Nations Secretary-General Ban Ki-moon has urged all sides to honor their commitments and work within a political process.
In corporate news, the boss of US drug-maker AbbVie Inc. will fly to London this week to meet a host of Shire's biggest investors amid expectations of an increase in his GBP27bn takeover proposal.
GlaxoSmithKline has confirmed the existence of an intimate video recording of its former China head, Mark Reilly, and said it was continuing to cooperate fully with Chinese authorities on the bribery investigation.
French lender BNP Paribas SA is looking to plead guilty to criminal charges of violating US sanctions, the Bloomberg reported.
Oil giant BP PLC. has approached a US court seeking repayment from several companies part of the compensation they received related to the Gulf of Mexico oil spill.
Swedish defense and security company Saab AB has agreed to buy the Swedish defense unit of ThyssenKrupp AG for 340 million Swedish Kronor, or about 37 million euros.
Dutch financial services firm ING Group has sold its remaining 10% stake in SulAmÉrica S.A. through a block trade on the BM&F BOVESPA stock exchange.
The major European markets ended mixed showing little change on Friday, weighed down by concerns over the economic outlook as well as geopolitical tensions. Investors also digested tepid economic data, with Eurozone economic confidence weakening unexpectedly in June from a 34-month high, while UK house prices rose at the slowest pace in five months in the month.
US stocks posted modest gains on Friday, as investors digested mixed earnings news from athletic footwear maker Nike and chemical giant DuPont and a survey showing improvement in consumer sentiment in June. The Dow edged up marginally, the tech-heavy Nasdaq advanced 0.4% and the S&P 500 rose 0.2%.