European stocks to open mixed amid trade war anxiety

European stocks are set to open mixed Wednesday morning, amid elevated tensions between the U.S. and China over looming trade tariffs and investment restrictions.

The FTSE 100 is seen little changed at 7,582; the CAC is expected to open down around 5 points at 5,310 while the DAX is poised to start 22 points lower at 12,325, according to IG.

Market focus is largely attuned to the ongoing U.S.-Sino trade row, with investors concerned that the dispute could soon derail a rare period of synchronized global growth.

At the end of the trading week, Washington is set to impose tariffs on $34 billion worth of goods from Beijing. China is then expected to respond with charges of its own on U.S. products.

In Asia, equities slipped amid escalating fears of a full-blown trade war. MSCI’s broadest index, excluding Japan, edged around 0.2 percent lower on Wednesday.

Stateside, Wall Street shares gave up early gains to close lower ahead of the Independence Day holiday on Wednesday.

Technology shares came under pressure, with Facebook falling over two percent after the Washington Post reported a federal probe on the data breach linked to Cambridge Analytica had been broadened.

Back in Europe, the euro area is expected to publish a final estimate of Markit Services PMI for June at around 9 a.m. London time.

Source: CNBC

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