Firm commodity prices and encouraging Asian cues may help the European markets open on a positive note Monday morning. Asian stock markets were mostly higher Monday, led by gains in Australia and Hong Kong on higher commodity prices, which rose in reaction to the weaker dollar. The Japanese market was closed for a public holiday.
That said, cautious undertone may prevail as traders look ahead to a report on U.S existing home sales for October later in the day along with a slew of other upcoming U.S reports on revised GDP, home sales, unemployment and consumer confidence due this week.
Crude oil futures for January delivery are now trading higher by more than a percent at $78.38 a barrel on speculation U.S. efforts to restore its economy from its worst recession since World War II will put more downward pressure on the dollar. The December contract expired on Friday at $76.72 a barrel, down 74 cents or 1 percent.
In corporate news, Unilever United States Inc., a unit of Unilever NV, said that it is voluntarily recalling certain Shedd's Country Crock chilled side-dish products as they may contain undeclared sulfites.
Eni SpA(E)of Italy will acquire stakes in two Ugandan oil fields from Heritage Oil Plc for more than $1.3 billion, according to media reports.
British Airways' planned merger with Spain's Iberia may pave the way for BA to reconsider a tie-up with Australia's Qantas Airways, the Financial Times reported, citing an interview with British carrier's chief executive.
Royal Dutch Shell Plc is in advanced talks to buy a 10% stake in India's Essar Oil, the Economic times reported.
German Auto giant Volkswagen AG unveiled an ambitious strategy to triple its sales in south China by 2018.
More players are reportedly showing interest in the race to acquire Cadbury Plc, which may force U.S. food products company Kraft Foods to increase its $16.3 billion offer for the U.K-based confectioner.
Gemalto announced that it has entered into exclusive negotiations to acquire all the current activities of XIRING's banking business unit.
The European markets fell for the fourth day on Friday, as banking stocks declined after the European Central Bank said it has decided to amend the rating requirements for asset-backed securities to be eligible for use in Eurosystem credit operations and energy stocks edged lower, tracking weakness in crude oil prices.
The FTSEurofirst 300 index of pan-European blue chips closed 0.77% lower, while the narrower DJ Stoxx 50 index fell 0.83%. Around Europe, the U.K.'s FTSE 10 index fell 0.31%, France's CAC 40 index dropped 0.82% and Germany's DAX index slipped 0.68%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.