Europe set for cagey start; autos in focus
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EUROPE SET FOR CAGEY START; AUTOS IN FOCUS
European equity futures are slightly lower on Monday, coming off a strong week that saw all the major indices jump on hopes the global economy will be given a kick-start by stimulus from China.
Euro STOXX 50 STXEc1 futures are down 0.3%, after the index .STOXX50E rose 4% last week, its biggest weekly jump since January.
Futures on Germany's DAX FDXc1, France's CAC FCEc1 and Britain's FTSE FFIc1 are down between 0.3%-0.4%, in what looks set to be an eventful week ahead, starting with German inflation data today before euro area wide figures on Tuesday. The week rounds off with U.S. jobs data on Friday.
Shares in Asia were mixed overnight. Chinese markets rocketed over 7% as Beijing rolled out more stimulus measures. The CSI 300 .CSI300 is on track to end September with a 21% rise, the biggest monthly jump since December 2014.
But shares in Tokyo .N225 sank almost 5%, after perceived policy hawk Shigeru Ishiba won a leadership contest to become Japan's next prime minister on Friday. Ishiba called a snap election to take place on Oct. 27.
Back in Europe, the embattled auto sector will be in focus after profit warnings from Volkswagen VOWG_p.DE, Stellantis STLAM.MI and Aston Martin AML.L.
(Samuel Indyk)
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