European markets seen lower amid concern over corporate earnings

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European stocks are set to open lower Monday morning, as investors prepared for what is expected to be a tough U.S. earnings season.

The FTSE 100 is seen 18 points lower at 7,426, the CAC is expected open down around 14 points at 5,462, while the DAX is poised to start 59 points lower at 11,950, according to IG.

Market focus is largely attuned to corporate results, with major U.S. banks set to get the ball rolling later in the week.Analysts have warned that the upcoming earnings season could be the first quarter of contracting corporate results since 2016. Back in Europe, U.K. Prime Minister Theresa May is still searching for a new plan to secure a delay to Brexit from EU leaders at a summit on Wednesday.

U.K. lawmakers have so far failed to approve a withdrawal agreement, with the world's fifth-largest economy set to leave the bloc on April 12. On the data front, Germany is set to publish trade balance figures and current account data for February during morning deals.

 

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