{"id":14360,"date":"2021-09-27T05:37:43","date_gmt":"2021-09-27T05:37:43","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/09\/27\/european-shares-seen-up-as-oil-extends-surge\/"},"modified":"2021-09-27T05:37:43","modified_gmt":"2021-09-27T05:37:43","slug":"european-shares-seen-up-as-oil-extends-surge","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/09\/27\/european-shares-seen-up-as-oil-extends-surge\/","title":{"rendered":"European Shares Seen Up As Oil Extends Surge"},"content":{"rendered":"
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European stocks are seen opening higher on Monday, with energy companies likely to be in the spotlight. <\/p>\n

Asian markets<\/span> were trading mixed and the dollar weakened as investors weighed the implications of surging energy prices and risks from the Chinese financial system. <\/p>\n

West Texas Intermediate extended a rally to top $75 a barrel and Brent hit the highest level since October 2018 amid signs that the crude market is tightening because of a global energy crunch.<\/p>\n

The euro held steady after Germany’s centre-left Social Democrats (SPD) narrowly won the country’s federal elections.<\/p>\n

Elsewhere in the U.S., House Speaker Nancy Pelosi pledged to pass a $550 billion infrastructure bill this week.<\/p>\n

It’s a quiet day ahead on the Eurozone’s economic calendar. ECB President Lagarde is scheduled to speak, with investors awaiting comments on the economic outlook and monetary policy.<\/p>\n

Across the Atlantic, this week’s trading may be impacted by reaction to reports on durable goods orders, consumer confidence, personal income and spending and manufacturing activity.<\/p>\n

This week will see Fed Chair Jerome Powell and Treasury Secretary Janet Yellen appear before a Senate panel to discuss the U.S. economic recovery.<\/p>\n

U.S. stocks fluctuated before ending narrowly mixed on Friday amid concerns relating to the debt woes of China Evergrande Group, a crackdown on bitcoin by China and a looming federal debt-ceiling in the U.S. <\/p>\n

The Dow ended flat with a positive bias and the S&P 500 inched up 0.2 percent while the tech-heavy Nasdaq Composite finished marginally lower.<\/p>\n

European stocks snapped a three-day winning streak on Friday, with uncertainty about Evergrande’s ability to pay interest on dollar-denominated bonds and a batch of weak economic data from the region denting sentiment. <\/p>\n

The pan European Stoxx 600 declined 0.9 percent. The German DAX dropped 0.7 percent, France’s CAC 40 index gave up 1 percent and the U.K.’s FTSE 100 eased 0.4 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n