European stocks to open lower as Trump cools US-Sino trade optimism

Big 5
European stocks are set to open lower on Wednesday morning, amid souring market sentiment over the progress made in trade talks between the world’s two biggest economies.

The FTSE 100 is seen off by 39 points at 7,856; the CAC is expected to open around 22 points lower at 5,627 while the DAX is poised to start down by 43 points at 13,147, according to IG.

 

President Donald Trump said Tuesday he was not satisfied with recent negotiations between the U.S. and China. His comments followed remarks over the weekend from U.S. Treasury Secretary Steven Mnuchin who said Washington and Beijing’s ongoing trade dispute was “on hold.”

The U.S. president also threatened to fine ZTE Corp and warned he might shake up its management, amid broader plans for the White House to roll back more severe penalties against the Chinese telecom company.

In Europe, Britain’s Marks & Spencer was scheduled to report new figures Wednesday.

On the data front, Britain is set to publish inflation rate data for April at around 9:30 a.m. London time while the euro area is due to release flash consumer confidence data for May later in the trading day.

Source: CNBC

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