European stocks were expected to open lower Monday as protests continued throughout the US after the death of George Floyd, an unarmed black man, at the hands of Minneapolis police last week.
London FTSE seen opening 55 points lower at 6,174, France CAC 40 is expected to open 148 points lower at 11,660 and Italy FTSE MIB seen 97 points lower at 18,181, according to IG. Markets are closed in Austria, Denmark, Germany, Norway, Sweden and Switzerland for public holidays.
Investors around the world will be the focus civil unrest that spread in the US; Hundreds of people were arrested at the weekend when protesters and police clashed in cities across America after George Floyd’s murder sparked more than 100 protests, rallies and actions, according to NBC News.
Derek Chauvin, the officer who was filmed kneeling on Floyd’s neck, is arrested and charged with murder and murder.
But the arrests and accusations failed to quell public anger over the deaths, and protests, some violence, continue. Mayor of major cities from Los Angeles to Philadelphia to Atlanta curfew is imposed and at least 12 countries, as well as Washington, D.C., activate National Guard forces.
At the same time, the coronavirus pandemic remains in the spotlight. The number of corona virus cases globally has now reached more than 6.1 million and the number of deaths has reached 372,037, according to calculations from Johns Hopkins University.
Stocks in the Asia Pacific were higher in trading Monday morning as Chinese data releases over the weekend showed the country’s factory activity expanded in May, with the official manufacturing Purchasing Managers’ Index (PMI) at 50.6. That was a decline from the 50.8 print in April and below the 51.0 level predicted by analysts, according to Reuters. However, the figure for May is above the level of 50, which separates expansion from contraction in the PMI reading.
There is no big income on Monday. Spanish new car registration data for May, as well as final PMI manufacturing data for several European countries.
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