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European markets head for higher open as investors track reports of Trump's improving health

  • London's FTSE is seen opening 52 points higher at 5,941, Germany's DAX up 101 points at 12,775, France's CAC 40 up 46 points at 4,861 and Italy's FTSE MIB 172 points higher at 19,138, according to IG.
  • Trump said in a minute-long video posted on Twitter late Sunday that "we are getting great reports from the doctors."

European stocks are expected to open higher Monday as global markets are calmed by reports of President Trump's improving health as he's treated for Covid-19.

London's FTSE is seen opening 52 points higher at 5,941, Germany's DAX up 101 points at 12,775, France's CAC 40 up 46 points at 4,861 and Italy's FTSE MIB 172 points higher at 19,138, according to IG.

European markets are expected to follow their counterparts in the U.S. and Asia-Pacific higher Monday as political uncertainty following Trump's Covid-19 diagnosis eases. 

In overnight trading on Sunday, U.S. stock futures on the Dow Jones Industrial Average climbed about 200 points, while the S&P 500 futures and the Nasdaq 100 futures both rose about 0.7%. 

Trump said in a minute-long video posted on Twitter late Sunday that "we are getting great reports from the doctors." The president also took a short, last-minute motorcade ride to wave to his supporters standing outside the hospital.

Nonetheless, the president's doctors said they had begun treating him with dexamethasone, a steroid recommended for severe cases of Covid-19. The president was said to have experienced two drops in his oxygen levels since his diagnosis announcement just before 1 a.m. ET on Friday.

Oil prices also saw a strong rebound during Monday trade, up around 2%, following a drop on Friday.  

There are no major earnings in Europe Monday and on the data front, U.K. new passenger car registrations are due, and the latest euro zone retail sales figures are expected.

– CNBC's Eustance Huang, Yun Li and Tucker Higgins contributed to this market report.

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