European Stock Markets Expected to Rise, Boosted by Easing U.S. Budget Tensions

Investor optimism is bolstered by a calming of concerns regarding U.S. budget tensions and the overvaluation of artificial intelligence tech stocks, which had heavily impacted indices last week. On the corporate front, China has granted export exemptions for chips from Dutch company Nexperia intended for civilian use. This measure is expected to alleviate supply shortages for automotive manufacturers and equipment suppliers. Additionally, Pfizer has reached an agreement to acquire Metsera for up to $10 billion, outbidding its Danish competitor Novo Nordisk. Ahead of the market opening, futures on the Euro Stoxx 50 and Stoxx 600 were up by more than 1%, indicating a session likely to be marked by recovery.