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European Shares May Open On Cautious Note


European stocks may open slightly lower on Friday as investors fret about the impact of trade wars and sanctions on Russia.

Asian markets are trading mostly lower on concerns that tit-for-tat tariffs will destroy trade between the world's top two economies.

The second tranche of tariffs, which are due to take effect on August 23rd, follows the first tranche of tariffs on approximately $34 billion of Chinese imports that went into effect on July 6th.

The Japanese yen appreciated against the dollar after data showed the country's economy grew more than expected in the second quarter, driven by higher consumer spending and business investment.

The euro held flat against the euro while oil edged up on speculation that the latest U.S. sanctions against Iran would tighten supplies.

The pound wallowed at its lowest against the dollar and euro in almost a year after a survey found more people back a second Brexit referendum, if talks with Brussels break down.

Overnight, U.S. stocks ended mixed for a second straight session as investors weighed lingering trade war concerns against largely upbeat corporate earnings news.

The Dow dropped 0.3 percent and the S&P 500 slid 0.1 percent while the tech-heavy Nasdaq Composite inched up marginally.

European markets also ended Thursday's session on a mixed note after struggling earlier in the day as China imposed retaliatory tariffs on U.S. goods.

The pan-European Stoxx Europe 600 index inched up 0.1 percent. The German DAX rose 0.3 percent and France's CAC 40 index finished marginally higher while the U.K.'s FTSE 100 shed half a percent.

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