European stocks set for a strong open as trade fears ease

By Yomna Yasser On Apr 5, 2018

European equities are expected to open significantly higher Thursday morning as trade tensions calm down.

The FTSE 100 is seen up by 100 points at 7,127; the DAX is seen higher by 175 points at 12,127 and the CAC 40 is set to start higher by 69 points at 5,210; according to IG.

In Asia, stocks traded higher continuing the momentum seen on Wall Street. U.S. equities rebounded on Wednesday after tensions between China and the U.S. on trade issues seemed to ease.

The U.S. said it is willing to negotiate with China after the latter announced retaliatory measures against recent proposals for U.S. tariffs on a range of Chinese products.

Meanwhile, investors will keep tracking data and corporate news. The Italian lender Monte dei Paschi’s told investors that it is making progress with its turnaround plan, Reuters reported. In France, several transport strikes have led to a surge in the use of apps, such as BlaBlaCar.

In terms of data, there will be service PMIs in the U.K. at 9.30 a.m. London time and retail sales numbers in the euro zone at 10 a.m. London time.

Source: CNBC