Plus   Neg

European Shares Set For Subdued Start On Mixed China Data


European stocks may open a tad lower on Friday after notable gains in the previous session and in view of mixed Chinese trade data released this morning.

China's March exports fell an annual 2.7 percent in dollar terms to mark the first drop since February last year, while imports grew 14.4 percent, beating forecasts, customs data showed.

The dollar rose against major rivals as geopolitical tensions in the Middle East eased. Gold prices rose and remained on track for a second week of gains while oil eased a little bit on the back of soothing comments by U.S. President Donald Trump.

Besides urging caution on an imminent strike against Syria, Trump also tweeted that the U.S. would rejoin the controversial Trans Pacific Partnership trade pact if the deal were substantially better than the one offered to former President Barack Obama.

Asian stocks pared early gains as focus turned to earnings reports from
JPMorgan Chase & Co, Citigroup and Wells Fargo & Co due later in the day.

Destatis is scheduled to issue Germany's final inflation data later today. Inflation is expected to match the flash estimate of 1.6 percent in March.

Eurostat will release euro area foreign trade data at 5.00 am ET. The trade surplus is forecast to rise to 20.2 billion euros in February from 19.9 billion euros in January.

U.S. stocks rose sharply overnight, with banks and technology stocks leading the surge as President Trump sought to downplay concerns about an attack on Syria, saying an attack may not be imminent.

The Dow Jones Industrial Average rallied 1.2 percent, the tech-heavy Nasdaq Composite surged 1 percent and the S&P 500 gained 0.8 percent.

European markets finished higher on Thursday as concerns over a potential conflict in Syria eased and investors cheered merger and acquisition headlines.

The pan-European Stoxx Europe 600 index gained 0.7 percent. The German DAX jumped 1 percent and France's CAC 40 index rose 0.6 percent while the U.K.'s FTSE 100 closed marginally higher.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT