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European Shares Set To Open On Firm Note

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European stocks may open a tad higher on Tuesday after U.S. House Republicans said they would unveil another round of tax cuts this week to force Democrats into a difficult vote ahead of mid-term elections.

U.S. stocks ended mixed overnight as optimism for further tax relief offset Apple's warning that its products would be affected by proposed U.S. tariffs on Chinese goods.

The Dow Jones Industrial Average dropped 0.2 percent, while the tech-heavy Nasdaq Composite added 0.3 percent and the S&P 500 rose 0.2 percent.

Asian markets are turning in a mixed performance as investors await the U.S. tariff announcement on $200 billion of Chinese imports in a dispute over Beijing's technology policy.

The dollar held firm on expectations of an interest rate hike by the Federal Reserve this month while oil held steady ahead of looming U.S. sanctions against Iran's petroleum industry. The British pound surged on hopes for a Brexit deal in the coming weeks.

In economic releases, unemployment data from the U.K. and economic sentiment figures from Germany are due later in the session, headlining a light day for the European economic news.

European markets eked out modest gains on Monday despite political uncertainty in Sweden and elevated trade-war rhetoric from U.S. President Trump with China and Japan.

The pan-European Stoxx Europe 600 index gained half a percent. The German DAX rose 0.2 percent and France's CAC 40 index inched up 0.3 percent while the U.K.'s FTSE 100 finished marginally higher.

by RTTNews Staff Writer

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