European stocks set to creep higher
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EUROPEAN STOCKS SET TO CREEP HIGHER
European stock futures were slightly higher as investors digested recent big gains in markets and awaited U.S. payrolls data later in the week that could offer hints on the extent of rate cuts from the Federal Reserve this year.
The German DAX .GDAXI was set to open higher after closing at an all-time high in the prior session.
European stocks hit record highs last week after a drop in euro zone inflation set the stage for a rate cut by the European Central Bank in September. Focus this week will squarely be on the August U.S. payrolls data on Friday.
Shares in Rolls-Royce RR.L are likely to come into focus again. The stock shed 6.5% on Monday after Hong Kong's Cathay Pacific Airways 0293.HK said it would inspect its fleet of 48 Rolls-Royce powered A350s after a part failed on one of its widebody planes.
Swiss Life SLHN.S rose in premarket trade after the insurer and asset manager reported half-year fee result above expectations.
(Sruthi Shankar)
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