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European Shares Seen Up After China Data

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European stocks look set to open higher on Tuesday as Syria tensions eased and investor focus shifted to corporate earnings.

Gold held steady and the dollar index hit its lowest level in nearly a week as Syria tensions appeared to be cooling a little bit, with investors pinning hopes that last week's attack by U.S. and allied forces would not lead to prolonged conflict.

U.S. President Donald Trump on Monday delayed new sanctions against Russia after the country denounced the sanctions as "international economic raiding."

June WTI oil rose slightly in Asian trade after settling at $66.22 a barrel on the New York Mercantile Exchange Monday, down $1.17 or 1.7 percent on receding concerns about tensions in the Middle East.

Asian stock markets struggled for direction even as China's GDP growth figures for the first quarter came in at 6.8 percent, above the government's target.

China's industrial production advanced an annual 6.0 percent in March - missing forecasts for 6.3 percent and down from 6.2 percent in February, while retail sales jumped 10.1 percent from a year earlier, exceeding forecasts for 9.7 percent and up from 9.4 percent in the previous month.

Fixed asset investment climbed an annual 7.5 percent, missing expectations for 7.7 percent and down from 7.9 percent a month earlier.

Traders also kept an eye on the Hong Kong dollar as the Hong Kong Monetary Authority stepped in to support the local currency for a sixth time in less than a week.

The ZEW economic sentiment surveys from Germany and the Eurozone as well as U.S. reports on housing starts and industrial production may attract attention later in the day.

Overnight, U.S. stocks closed notably higher as Syria fears eased, Bank of America reported strong quarterly earnings and data showed U.S. retail sales advanced for the first time in three months in March.

The Dow Jones Industrial Average climbed 0.9 percent, the tech-heavy Nasdaq Composite rose 0.7 percent and the S&P 500 added 0.8 percent.

European markets ended mostly lower on Monday as traders remained concerned about how Syrian ally Russia will respond to Western missile strikes.

The pan-European Stoxx Europe 600 index eased 0.4 percent. The German DAX dropped 0.4 percent and the U.K.'s FTSE 100 slid 0.9 percent while France's CAC 40 index closed little changed with a positive bias.

by RTTNews Staff Writer

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