European Shares Seen Opening On Positive Note

European stocks are likely to open higher on Tuesday as traders return to their desks after a long holiday weekend.

China reported better-than-expected trade data for the month of March, helping underpin investor sentiment.

In yuan terms, China's imports rose an annual 2.4 percent in the month, beating expectations for a 7 percent drop. Imports declined 2.4 percent in February.

Exports fell 3.5 percent compared to the expected slide of 12.8 percent. Exports declined by 15.9 percent in February. The trade surplus for the month narrowed to CNY 130 billion from CNY 158.5 billion in February.

Closer home, French industrial production expanded 0.9 percent on a monthly basis in February, faster than the expected rate of 0.1 percent, data from the statistical office Insee revealed Friday. This was slower than the 1.1 percent increase seen in January.

Asian markets rose on hopes the coronavirus outbreak may be peaking in hard-hit cities around the world.

For the first time in a week, the death toll in New York dipped below 700. Spain permitted some workers to return to their jobs, while a hard-hit region of Italy loosened its lockdown restrictions.

China has approved early-stage human tests for two experimental vaccines to combat the new coronavirus as it battles to contain imported cases, especially from neighboring Russia.

The dollar extended losses after the U.S. Federal Reserve announced a massive lending program to get liquidity into the hands of small to middle-market businesses. Oil prices continued to climb after major oil producers agreed on Sunday to slash oil output by 9.7 million barrels per day.

U.S. stocks ended mixed overnight as investors braced for a painful earnings season due to the coronavirus pandemic. The Dow Jones Industrial Average shed 1.4 percent and the S&P 500 gave up 1 percent after three days of gains.

U.S. President Donald Trump on Monday said that he was very close to completing a plan to reopen the country. However, some state governors have signaled that the decision on when to restart businesses lay with them.

The tech-heavy Nasdaq rose half a percent as New York Governor Andrew Cuomo declared that "the worst is over" but the virus outbreak will not be "over" until a vaccine was available.

European markets were closed for Easter Monday holiday.

The U.S. earnings season gets underway this week, with JPMorgan Chase & Co and Wells Fargo & Co set to report their quarterly results later today. 



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