European markets seen higher as global trade concerns ease

European equities are set to open higher Tuesday morning as concerns over a global trade war eased.

The FTSE 100 is seen up by 80 points at 6,964; the German DAX is expected to start higher by 188 points at 11,953 and the CAC 40 in France in seen up by 61 points at 5,118; according to IG.

In Asia, markets rose after reports that the U.S. and China are open to discuss trade-related issues. The news comes after a ratcheting up of tensions between the superpowers and fears of a potential trade war.

The White House is seeking reduced tariffs on imported cars as well as asking China to allow foreign majority ownership of financial services firms in exchange for not imposing higher prices on an array of imported Chinese goods.

At the same time, Peter Navarro, a top trade advisor to President Donald Trump, told CNBC that it “looks like we might get a really good deal on NAFTA.”

Back in Europe, investors will keep their eye on politics after several European countries decided to expel many Russian diplomats after an alleged nerve attack in U.K. soil on a former Russian spy. The U.S. has also ordered the expulsion of 60 diplomats and Australia another two, adding that it could also boycott the world cup this summer in Russia.

Meanwhile, Deutsche Bank is reportedly looking to replace John Cryan as chief executive with Richard Gnodde, a senior executive at Goldman Sachs, The Times newspaper reported.

In merger news, GlaxoSmithKline (GSK) has agreed with Novartis to buy a 36.5 percent stake in their Consumer Healthcare Joint Venture for $13 billion. Source: CNBC