"Alibaba's split may pave the way for other Chinese tech giants to do similar," CMC Markets analyst Tina Teng said.
Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.41%, German DAX futures up 0.38% and FTSE futures up 0.08%.Also helping sentiment was easing worries over the banking sector, with investor nerves soothed by the sale of assets in collapsed lender Silicon Valley Bank and few signs of further stresses in the banking system following weeks of volatility in the market.
Will everything be flipped?
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STOCK MARKET NEWS: Alibaba split, Lyft’s new CEO, SVB hearings, Walgreen’s, Micron reportInvestors will monitor the first Silicon Valley Bank hearing, Jack Ma’s Alibaba is restructuring, Lyft gets new CEO and Walgreen’s, Micron report. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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