European stocks were higher on Monday as all eyes were on Tuesday’s U.S. presidential election.
Pan-European Stoke 600 It was last up 0.25% at 10:30 a.m. London time, with regional bourses and sectors broadly higher.
Oil and gas, auto and bank stocks all rose about 0.7%, while technology stocks fell 0.23%. As crude oil prices rise more than OPEC+ decided to postpone its production increase plan on Monday, and oil prices fell 2%.
Burberry shares rose about 5% after media reports over the weekend that peer Moncler was considering acquiring the British luxury retailer.
Global markets are gearing up for a crucial week, with the latest U.S. presidential election poll from NBC News showing: “A deadlocked game” Between former President Donald Trump and current Vice President Kamala Harris.
The aftershocks in global markets could depend largely on the outcome of the vote to see which party takes control of Congress. A divided U.S. House and Senate could maintain the political status quo in the world’s largest economy. However, a Republican or Democratic sweep would likely be accompanied by a victory for the same party in the White House and could translate into new spending plans or tax reforms.
Asia Pacific market rose on Monday, while US stock futures Overnight trading was mixed.
— CNBC’s Samantha Subin contributed reporting to this markets blog.
