European stock markets are expected to open higher on Tuesday, buoyed by support from China's monetary policy easing while concerns about the economic impact of the Omicron Covid variant ease.
At 2 a.m. ET (0700 GMT), DAX futures in Germany were trading 0.7% higher, CAC 40 futures in France were up 0.9% and FTSE 100 futures in the UK were up. 0.3%.
This positive tone was helped by the People's Bank of China's decision to cut the reserve requirement ratio by 50 basis points, reducing the amount of cash banks must hold in reserve.
The move, the second this year, is aimed at boosting growth as the world's second-largest economy has lost momentum in recent months. China will also ease liquidity conditions as some of the top property developers face default risks.
Global stocks bounced on Monday on worries about the impact of the Omicron variant after health officials from both South Africa, where the variant was first detected, and the United States reported over the weekend. that Omicron cases have only mild symptoms.
Additionally, a British study found that people have a better immune response when they mix different Covid-19 vaccines, offering some hope to poorer countries that may need a combination of vaccines. Different brands if supply is almost out.
In company news, ABB (SIX: ABBN) will be in the spotlight after the Swiss engineering firm announced higher revenue and profit targets on Tuesday, hoping to benefit from demand. higher from recovering economies as well as catching up with trends such as decarbonisation.
Moving on to economic data, the main release will be the German ZEW Economic Sentiment Index for December, expected to show reduced confidence in the Eurozone's most important economy. after movement restrictions were re-imposed to combat the latest issues related to the spike in Covid cases.
Crude oil prices rose on Tuesday, adding to the previous session's strong gains as worries about the impact of the Covid omicron variant on global demand eased.
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