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European shares set for rebound after trade concerns fuel sell-off

European shares are expected to open higher Tuesday morning, rebounding after trade concerns caused a sharp sell-off for global markets in the previous session.

The FTSE 100 is seen up by 18 points at 7,524; the DAX is expected to start higher by 32 points at 12,314; and the CAC 40 is set to open up by seven points at 5,296; according to IG.

Concerns over trade reached a fresh high Monday following reports that President Donald Trump intends to block some Chinese companies from investing in U.S. technology.

Treasury Secretary Steven Mnuchin said the reports were “fake news” and that the measures would actually apply to all countries and not just China. The Dow dropped more than 300 points as a result.

Meanwhile, Trump criticized the motorcycle company Harley-Davidson for saying it would move production to Europe in order to serve European customers and not be hit with retaliatory EU tariffs.

In corporate news, Uber is due to find out Tuesday if its attempts to overturn a ban to operate in London will be approved.

In terms of data, investors will look at U.K. Financial Mortgage Approvals due out at 9.30 a.m. London time.

Source: CNBC

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