KEY POINTS
  • European stocks are expected to see a muted open on Tuesday, with investors keeping a close eye on the oil markets after talks between members of the OPEC+ oil producing alliance were abandoned.
  • London’s FTSE is seen opening 2 points lower at 7,161, Germany’s DAX up 14 points at 15,679, France’s CAC 40 up 10 points at 6,576 and Italy’s FTSE MIB 66 points higher at 25,397, according to IG.

(CNBC)-European stocks are expected to see a muted open on Tuesday, with investors keeping a close eye on the oil markets after talks between members of the OPEC+ oil-producing alliance were abandoned.

London’s FTSE is seen opening 2 points lower at 7,161, Germany’s DAX up 14 points at 15,679, France’s CAC 40 up 10 points at 6,576 and Italy’s FTSE MIB 66 points higher at 25,397, according to IG.

The muted start for Europe’s markets reflects similar sentiment elsewhere overnight. In Asia-Pacific, markets struggled for direction in Tuesday morning trade as investors look ahead to the Australian central bank’s interest rate decision.

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Meanwhile, U.S. stock futures were flat in overnight trading on Monday as Wall Street got set to kick off the holiday-shortened week with the S&P 500 at a record high.

Oil prices remain in focus, having surged to multiyear highs on Monday, after talks between OPEC and its oil-producing allies, a group known as OPEC+, were postponed indefinitely following a failure by the group to agree on production policy.

Data release in Europe on Tuesday include euro zone retail sales in May, German industrial orders in May and the ZEW survey of economic sentiment in Germany.

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