European markets are heading for a tepid open on Monday, bucking a positive trend in Asia-Pacific markets overnight, where shares rose on Monday as China relaxed Covid testing rules in some cities and signaled more easing may come.before paring gains to trade around 1% higher as OPEC+ stuck to its policy of lowering oil production and as China relaxed some of its Covid rules.
The alliance of OPEC and non-OPEC producers agreed to stay the course on output policy ahead of a pending ban from the European Union on Russian crude. European markets closed lower Friday, influenced by a decline in U.S. markets as investors digested the latest U.S. jobs data that showed payrolls rose by 263,000 in November,It was the final monthly employment report before the Fed's two-day meeting on Dec. 13-14, in which the central bank is expected to slow to a 50 basis point interest rate hike from the 75 basis point hikes seen in recent months.