European markets open to close, data, earnings, Davos

LONDON — European stocks are expected to open lower Tuesday as U.S. markets struggle to maintain a comeback rally.

The U.K.’s FTSE index is seen opening 35 points lower at 7,468, Germany’s DAX 47 points lower at 14,099, France’s CAC 40 down 28 points at 6,310 and Italy’s FTSE MIB 168 points lower at 23,945, according to data from IG.

The negative open expected in Europe comes as global markets struggled to sustain a comeback rally following weeks of losses.

U.S. stock futures fell in overnight trading Monday although stocks had rallied stateside earlier in the trading session, with the Dow jumping 618 points, or nearly 2%, following a week of sharp losses. The S&P 500 rose 1.9%, and the Nasdaq Composite gained 1.6%.

European stocks were also trading higher on Monday despite fears over the global economy dominating market sentiment of late. Markets in Asia-Pacific were subdued in Tuesday trading.

The World Economic Forum is taking place in Davos this week, bringing together political and business leaders from around the world. This year’s summit comes after several years of Covid-19 pandemic and amid Russia’s invasion of Ukraine, which is at the top of the agenda.

On Tuesday, CNBC will be speaking to a wide range of leaders, including the chairmen of Publicis Groupe and Standard Chartered, the CEOs of Nokia and ABB and Gita Gopinath, first deputy managing director of the IMF, among many others.