FX.co ★ European Markets Head for Higher Open

European equity markets are anticipated to open on a positive note this Monday, buoyed by global optimism regarding a potential trade breakthrough from the forthcoming Trump-Xi meeting, following constructive negotiations over the weekend. U.S. Treasury Secretary Scott Bessent confirmed that President Trump's threat of a 100% tariff is no longer a possibility, while also announcing that Beijing has agreed to delay its planned expansion of rare earth export controls for a year. In Europe, investor attention will be drawn to Germany's Ifo Business Climate survey for October and Eurozone credit data for September. On the corporate front, HSBC has projected a $1.1 billion litigation provision related to claims from investors affected by Bernard Madoff’s fraudulent scheme, while Novartis has revealed plans to acquire the biotechnology firm Avidity Biosciences in a transaction valued at $12 billion. In premarket trading, futures for both the Euro Stoxx 50 and the Stoxx 600 indices experienced an approximate increase of 0.4%.