(RTTNews) - European stocks could rise further on Monday, adding to Friday's gains, tracking positive Asian cues and steady copper and oil prices. Asian stocks markets rose across the board on Monday, as news of Egyptian President Hosni Mubarak's resignation eased concerns about political instability and weakness in the U.S. dollar helped base metal prices trade higher on the LME.
China's Shanghai Composite average rose 2.5 percent on talk of slower-than-expected January inflation, a day ahead of the official release. Meanwhile, data released today showed that Chinese exports grew at a pace of 37.7 percent on an annual basis in January and imports surged 51 percent. Economists were expecting a 22.5 percent rise in exports and 27 percent growth in imports.
Japan's Nikkei rose 1.13 percent to a nine-month high as data showing Japan's economy shrank at an annualized rate of 1.1 percent in the final quarter over the previous quarter, with the contraction not as worse as the 2.2% GDP decline expected by beat economists. The key benchmark indexes in Hong Kong, South Korea and India rose between 1.34 percent and 2.27 percent.
U.S. crude futures steadied near $85.70 per barrel in Asian trading after falling to 10-week lows on Friday, copper prices climbed for a third day in London and the Dow futures are rising 24 points. The euro is a tad lower against the dollar ahead of today's euro-zone finance ministers' meeting in Brussels.
In domestic corporate news, aerospace and defense giant Boeing on Sunday unveiled its 747-8 Intercontinental, the latest passenger version of the 747 jumbo jet.
Credit Suisse Group executed a definitive agreement with strategic investors, Qatar Holding LLC and The Olayan Group, to issue about CHF 6 billion of Tier 1 buffer capital notes to satisfy high capital requirement under rules by the Swiss regulator Finma.
Eurozone industrial production and Portuguese gross domestic product data are the major statistical reports due on Monday. After rising 1.4 percent month-over-month in November, eurozone industrial output is forecast to stagnate in December. The annual growth rate is seen at 8 percent, up from last month's 7.9 percent rise.
The European markets rose on Friday, after Egyptian president Hosni Mubarak stepped down and handed power to the military and a private report showed that consumer confidence in the U.S. rose this month. The FTSEurofirst 300 index of pan-European blue chips closed 0.48 percent higher, the U.K.'s FTSE 100 gained 0.71 percent, France's CAC 40 added 0.15 percent and Germany's DAX advanced 0.42 percent.
