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7 Feb 2022

European Stocks Climb as Central Banks Zero in on Inflation

The Index Today

European markets are set to open partially higher on Monday following last week’s volatility informed by the European Central Bank’s (ECB) hawkish stance on monetary policy, differing quarterly reports of firms, and a strong U.S. job data released Friday.

Germany’s DAX futures contract rose by 0.3% at 2:05am ET (0705 GMT), while France’s CAC 40 futures and the FTSE 100 futures contract in the U.K. edged higher by 0.2% each.

Investors remain pensive this week as Friday’s strong jobs report pave the way for a potential aggressive Fed monetary tightening even as it signaled a bullish outlook for global economic recovery.

Klaas Knot, who is a member of the ECB’s Governing Council and the President of the Dutch central bank, believes that the ECB will hike its interest rates in the fourth quarter of 2022 after its hawkish stance on inflation at its policy meeting on Thursday.

This comes as the geopolitical tensions between Russia and Ukraine took a new turn with Russia expected to attack within the next few days or weeks, as per a warning from the White House National Security Advisor, Jake Sullivan.

©Photo: Johannes Eisele/Getty Images

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