European markets set to open in mixed territory as trade uncertainty lingers
European markets are heading for a mixed open on Tuesday as uncertainty over the global trade outlook lingers despite a 90-day pause in the tariff spat between the U.S. and China.
The U.K.’s FTSE 100 index is expected to open 4 points lower at 8,591, Germany’s DAX up 23 points at 23,569, France’s CAC 3 points lower at 7,834 and Italy’s FTSE MIB 30 points lower at 39,222, according to data from IG.
Global markets rallied on Monday after news that Washington and Beijing agreed to slash steep tariffs for 90 days, raising hopes that a burgeoning trade war could be averted.
Asia-Pacific markets traded mixed overnight, however, setting the more pessimistic tone for their European counterparts, as questions remain over what could happen after the 90-day pause.
Meanwhile, U.S. stock futures fell in overnight trading as investors await the latest U.S. inflation reading ahead of producer price index data on Thursday.
European markets will be keeping an eye on earnings from SoftBank, Tata Motors, Nissan, Honda, Metro Bank and Bayer. Data releases include U.K. retail sales and unemployment figures. Germany’s ZEW survey of economic sentiment is also due to be released.
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