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European Shares To Open On Soft Note After Mixed China Data

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European stocks may open lower on Tuesday as investors digest a raft of mixed economic data from China and keep an eye on the second round of trade talks between the U.S. and China taking place this week.

Chinese industrial output grew 7.0 percent year-on-year in April, the National Bureau of Statistics said. That topped expectations for an increase of 6.4 percent and was up from 6.0 percent in March.

Retail sales advanced an annual 9.4 percent - missing forecasts for 10.0 percent and down from 10.1 percent in the previous month. Fixed asset investment picked up 7.0 percent on year, shy of expectations for 7.4 percent and down from 7.5 percent a month earlier.

Asian stocks are broadly lower on continuing uncertainty over trade after U.S. President Trump expressed optimism about trade talks with China but claimed past negotiations have been one-sided in favor of Beijing, for so many years.

The dollar inched higher as U.S. Treasury yields popped above 3 percent. Oil prices inched higher to hold near 3-1/2-year high marked on Monday after OPEC reported that the global oil glut has been virtually eliminated.

Overnight, U.S. stocks ended modestly higher as trade tensions eased, oil pushed higher and Treasury yields popped above 3 percent.

The Dow Jones Industrial Average rose 0.3 percent while the S&P 500 and the tech-heavy Nasdaq Composite inched about 0.1 percent.

European markets fluctuated before ending slightly lower on Monday as investors remained focused on the political situation in Italy.

The pan-European Stoxx Europe 600 index ended little changed with a negative bias. The German DAX and the U.K.'s FTSE 100 both slid by 0.2 percent while France's CAC 40 index finished marginally lower.

by RTTNews Staff Writer

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