European stocks seen mixed as investors eye Brexit battle and stimulus hopes

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European stocks were seen opening mixed Monday morning as investors monitor ongoing political chaos in the U.K. and cautious hopes for policy stimulus from the world's major economies after a series of weak data releases.

British newspaper the Daily Telegraph reported late on Sunday that Prime Minister Boris Johnson has prepared a legal strategy to counter opposition lawmakers' attempts to enforce a three month extension to the U.K.'s Brexit deadline if no deal is agreed by October 31.

Meanwhile opposition parliamentarians are due to request an emergency debate on Monday in a bid to force the government to publish a no-deal Brexit planning document and make Johnson adhere to the new law blocking a no-deal departure, ITV news has reported. Johnson suffered another blow over the weekend after Amber Rudd, the government's work and pensions minister, resigned and left the ruling Conservative party, accusing the prime minister of showing no evidence of working toward a new Brexit deal with Brussels.

Stocks in Asia traded mostly higher Monday afternoon as a series of recent weak data releases in major economies, including the U.S. and China, raised expectations of monetary stimulus from central banks. Mainland Chinese stocks led gains with the Shenzhen composite and Shenzhen component each gaining more than 1%.

 

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