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European Markets May Edge Higher

European markets are headed for a slightly positive start as traders look ahead to the historic meeting between the U.S. President Donald Trump and the North Korean leader Kim Jong Un in Singapore.

Trump's decision to back out of a joint communique after the G7 summit has raised concerns about a trade war, but Asian markets have mostly shrugged off this negative news.

Traders will be reacting to trade data from the U.K. Reports on manufacturing activity and industrial production in the U.K. for the month of April are also due for release today.

Meanwhile, markets are looking ahead to the monetary policy meetings of the US Federal Reserve and the European Central Bank.

The Fed commences its two-day meeting on June 12. It is expected to hike interest rates once again. The central bank's outlook on further rate hikes this year will hold the key for the near term direction of global markets.

The ECB is scheduled to meet on Thursday, June 14. Markets are awaiting the bank's views on unwinding its bond purchasing program.

Major European markets ended lower on Friday. Germany's DAX declined by 0.35 percent and the U.K.'s FTSE 100 ended down 0.3 percent, while the CAC of France edged down marginally.

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