FTSE, DAX, CAC Seen Higher as China Worries Ease

European shares are called to open the start of the shorter trading week higher as strong manufacturing data from China eased concerns of a hard landing for the economy there.


The FTSE 100 is seen higher by 14 points at the opening bell, Germany's DAX is seen up by 33 points and the CAC higher by 11 points.

Markets across the globe will be closed this week with China closed Monday through Thursday for the Tomb Sweeping Holiday while U.S and European equity markets will be closed at the end of the week for Easter.

The Financial Times is reporting that some banks that borrowed money from the European Central Bank through its Long-Term Refinancing Operation could start paying the money back as early as this year.

Italian Prime Minister Mario Monti warned that much still needs to be done in order to repair the economic situation in Italy.

Germany’s public deficit is expected to fall to 0.9 percent of gross domestic product, the finance ministry said on Monday to Focus magazine. The deficit has fallen due to strong economic growth.

In an interview with the Financial Times, the chief executive of bailed-out U.S insurer AIG hinted at a return to the mortgage business as it seeks ways to buy the mortgages that it insures. The group was bailed out by the U.S government to the tune of $182 billion in 2008, with the U.S Treasury still owning 70 percent of the company.