European markets seen higher as Canada re-joins US-Mexico trade talks
European markets are set to open slightly higher Wednesday morning, as investors continue to monitor global trade developments.
The FTSE 100 is seen 13 points higher at around 7,637; the CAC is expected to open little changed from the previous session at 5,499, while the DAX is poised to start up around 8 points at 12,556, according to IG.
Market focus is largely attuned to ongoing trade talks between the U.S., Mexico and Canada, following a recent breakthrough in efforts to revamp the North American Free Trade Agreement (NAFTA). The U.S. and Mexico found common ground on key trade terms on Monday, potentially ending a bitter impasse in relations since President Donald Trump came into office.
Canada’s main trade negotiator is in Washington this week, with investors cautiously optimistic Ottawa may be able to preserve the three-nation pact. Trump has warned he could press ahead with Mexico alone and impose charges on Canada if it does not come on board with the revised terms.
In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose around 0.3 percent on Wednesday.
On the data front, France is scheduled to publish a second estimate of second-quarter gross domestic product (GDP) shortly before the opening bell.
Elsewhere, British Prime Minister Theresa May continues with her tour of Africa, meeting with Nigeria’s President Muhammadu Buhari in Abuja on Wednesday.