European markets set for lackluster start to the trading week

  • European stocks are expected to open around the flatline on Monday as global markets gear up for more big earnings reports.
  • The U.K.'s FTSE index is seen opening 1 point lower at 7,232, Germany's DAX 3 points lower at 15,581, France's CAC 40 up 4 points at 6,733 and Italy's FTSE MIB 21 points higher at 26,209, according to data from IG.

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LONDON — European stocks are expected to open around the flatline on Monday as global markets gear up for more big earnings reports.

The U.K.'s FTSE index is seen opening 1 point lower at 7,232, Germany's DAX 3 points lower at 15,581, France's CAC 40 up 4 points at 6,733 and Italy's FTSE MIB 21 points higher at 26,209, according to data from IG.

Global markets are gearing up for more earnings this week, following a stronger-than-expected start to the earnings season in the U.S. last week.

U.S. stock index futures were mostly unchanged during overnight trading on Sunday, after the major averages posted their best week in months last week, amid a positive start to earnings season.

In addition to better-than-expected earnings from Goldman Sachs on Friday, positive economic data also boosted stocks. Retail sales rose 0.7% in September, the Census Bureau said Friday, while economists surveyed by Dow Jones were expecting a decline of 0.2%.

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A number of big names are set to report earnings in the coming week, including Netflix, Johnson & Johnson, United Airlines and Procter & Gamble on Tuesday. Tesla, Verizon and IBM are among the other names whose earnings are due to be released later this week.

Meanwhile, in Asia-Pacific overnight, stocks mostly traded lower as investors reacted to the release of key Chinese economic data that showed China's gross domestic product grew 4.9% in third quarter. That was below expectations of analysts in a Reuters poll for a 5.2% expansion.

Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase.

In Europe on Monday, earnings come from Philips and data releases include U.K. house price data from Rightmove.

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– CNBC's Pippa Stevens and Eustance Huang contributed to this report.

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