European stocks are expected to open higher Monday as investors focus on earnings, while keeping an eye on tax reform plans in the U.S. and political woes in the U.K.

The FTSE 100 is seen up by 20 points at 7,453; the German DAX is seen higher by 6 points at 13,124 and the CAC 40 is set to open higher by 4 points at 5,381.

In Asia, markets were under some pressure as investors questioned the chances of U.S. Republicans achieving a tax reform deal quickly. This sentiment is set to transpose to Europe.

In the U.K., the pound fell on growing concerns over the future of Theresa May as prime minister. Meanwhile in Germany, Chancellor Angela Merkel urged party leaders to reach a compromise for a new coalition government.

However, the main driver for markets remains earnings. Taylor Wimpey is due to make a trading update, while Innogy, LG and Rusal will be releasing their latest quarterly figures.

In terms of data, there will be a new OPEC monthly report.