European markets to open higher, OPEC and Trump meeting eyed

European markets are expected to open higher Thursday as investors look ahead to OPEC talks and the latest leg of U.S. President Donald Trump’s first foreign trip since taking office.

The FTSE is seen opening 18 points higher at 7,527; the DAX is expected up 44 points at 12,775; and the CAC is on track for a 23-point gains, opening at 5,356.

Asian shares reached two-year highs in Thursday deals while U.S. bond yields slipped after the U.S. Federal Reserve indicated a cautious approach to future rate hikes, undermining anticipation of an increase in June. Thursday’s agenda is heavy with OPEC members meeting in Vienna to discuss a possible extension to output cuts. Barclays has signalled that the program, which is intended to stem a supply glut and boost struggling oil prices, could be extended for a further nine months. Oil was trading at five-month highs in anticipation of the meeting.

Meanwhile, Trump is to meet with EU and NATO leaders in Brussels in the latest leg of his first international tour. He is expected to be taken to task on his approach to defence, trade and environmental issues.

The talks come as Trump comes under continued pressure over suspected ties with Russia. U.S. Democratic lawmakers are currently pursuing Deutsche Bank to determine whether it facilitated loans between Trump and the Russian government.

Also on Thursday, German Chancellor Angela Merkel and former U.S. President Barack Obama are to hold a public talk on democracy in Berlin.

Source: CNBC