Europe to follow global markets higher as China-U.S. trade talks continue in London
The City of London is a blend of old and new, with St Paul's Cathedral close to skyscrapers as well as Roman ruins.
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Good morning from London, welcome to CNBC's live blog covering all the action in European financial markets as well as the latest regional and global business news, data and earnings.
Futures data from IG suggests London's FTSE will open 11 points higher at 8,838, Germany's DAX up 62 points at 24,234, France's CAC 40 up 23 points at 7,807 and Italy's FTSE MIB 83 points higher at 40,545.
Global markets have been buoyed by trade talks that are taking place between U.S. and Chinese officials in London this week, with hopes rising that both sides can avert large-scale punitive tariffs and a trade war.
Global markets will be keeping an eye on the talks, which are set to continue Tuesday.
The latest U.K. unemployment figures are also due, but there are no other significant earnings or data reports Tuesday.
— Holly Ellyatt
Global markets climbed overnight amid hopes that the U.S. and China will find a way to resolve their trade dispute, with talks between trade officials set to continue in London on Tuesday.
Asia-Pacific markets and U.S. stock futures rose Monday night as investors waited for more insights into trade discussions between the U.S. and China. Traders are looking for signs of a deal that doesn't involve the world's two largest economies slapping extravagant tariffs on each other.
A car with U.S. Treasury Secretary Scott Bessent leaves a residence where trade talks between Chinese and U.S. delegations take place in Geneva, Switzerland, May 10, 2025. REUTERS/Denis Balibouse
Denis Balibouse | Reuters
President Donald Trump's top trade officials met their Chinese counterparts in London on Monday, with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer negotiating on behalf of the U.S.
Trump has authorized Bessent's team to potentially remove U.S. restrictions on the sales of chipmaking software, jet engine parts and ethane, The Wall Street Journal reported, citing sources familiar with the matter. Trump said Monday that the talks were going well and he was "only getting good reports," according to Reuters.
— Holly Ellyatt
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