MARKET UPDATE

European markets open higher; German debt reform vote ahead

European stocks started the new trading week in positive territory, although investors will be looking to see if global market volatility continues.

The pan-European Stoxx 600 index was 0.1% higher shortly after the opening bell, with most sectors moving higher.

European markets ended the week higher Friday after German lawmakers reportedly came closer to agreeing on reforming the country's so-called debt brake rule.

Media reports said Germany's likely next chancellor Friedrich Merz had won support from the Greens party to hike public borrowing to allow an increase in defense spending.

The motion, which requires a change to the German Constitution, needs backing from two-thirds of the lawmakers elected to the country's parliament. The Bundestag is expected to vote on the debt reform on Tuesday.

Source: CNBC

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