European markets are expected to open higher Tuesday, following a positive lead set in Asia after Chinese manufacturing data rebounded in March.
is seen 8 points higher at 5,577, France's CAC is seen 32 points higher at 4,405 and Germany's DAX is seen 106 points higher at 9,895, according to IG. Italy's FTSE MIB index is seen 177 points higher at 16,843.
European markets are likely to react positively to data out Tuesday showing that China's official manufacturing Purchasing Managers' Index for March, indicating an expansion and defying expectations of a contraction. Analysts polled by Reuters had expected the figure to come in at 45 for the month. PMI readings below 50 signify a contraction, while figures above that level indicate an expansion. Mainland Chinese stocks were higher by Tuesday afternoon in Asia following the data.
Meanwhile, the coronavirus continues to dominate global market sentiment and governments. The World Health Organization says there are now more than 782,000 global cases and at least 37,000 people have died. The U.S. has the highest number of cases, at 161,807, followed by Italy and Spain, with 87,956 cases, followed by China and Germany.
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