Europe Stocks to Rally After News of bin Laden Death

European stock markets were indicated to open higher after news that Al Qaeda's leader Osama bin Laden was killed in Pakistan.

Sharon Lorimer

In a late-night address on Sunday, US President Barack Obama said that "justice has been done" and that US forces led the operation in which bin Laden was killed.

The US has issued a worldwide travel alert for its citizens, warning of "enhanced potential for anti-American violence" following the killing.

The dollar rebounded from three-year lows and U.S. crude slid more than 1 percent after the news.

Asian stocks rallied, with the Nikkei briefly jumping above 10,000 points.

Various markets in Asia and Europe are closed. Financial markets in China, Hong Kong, Singapore, Malaysia and Thailand are all shut for public holidays while the London Stock Exchange is also closed.

Germany's DAX is indicated to open 61 points higher while the Paris CAC-40 is seen rising 32 points.

European stocks inched higher on Friday, rallying for the seven straight session and posting their best monthly performance since December, but volumes were light due to a UK public holiday.

The April euro zone manufacturing purchasing managers index is out on Monday.

The Bank of England Governor Mervyn King attends a public hearing of the European Parliament's Committee on Economic and Monetary Affairs in Brussels and in Germany, a ceremony takes place to discharge Axel Weber as President of the Bundesbank and to inaugurate the new head of Germany's central bank, Jens Weidmann.