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European Shares Set To Open On Steady Note


European stocks may open higher on Friday, with sentiment likely to remain supported by signs of potential progress in U.S.-China trade relations and hopes for China stimulus. Technology stocks could be in focus after underwhelming news from Apple Inc.

Asian stocks extended gains and remain on track to post their biggest weekly rally since July 2016 after comments from U.S. President Donald Trump suggested the door is still open for U.S-China trade talks. Benchmark indexes in China, Hong Kong, South Korea and Japan climbed 2-3 percent.

The dollar steadied ahead of the closely watched U.S. jobs report later in the day, with economists expecting employment to climb by 190,000 jobs in October after an increase of 134,000 jobs in September.

The jobless rate is expected to hold at 3.7 percent. It will be the final jobs report before next Tuesday's congressional elections.

Factory Purchasing Managers' survey data from euro area is due later in the session, headlining a light day for the European economic news.

Gold held steady after a 1.5 percent gain in the previous session, while oil remained on track for its biggest weekly loss since February on signs of rising U.S. supply and amid concerns that the U.S.-China trade war would dent fuel demand in the near term.

Overnight, U.S. stocks rose to extend gains from the previous two sessions after Trump said he had a "long and very good" conversation with Chinese President Xi Jinping on trade and North Korea, and that the two planned to meet at the upcoming G-20 summit.

The Dow Jones Industrial Average surged 1.1 percent, the tech-heavy Nasdaq Composite jumped as much as 1.8 percent and the S&P 500 added 1.1 percent.

European markets ended Thursday's session with mixed results as investors digested encouraging corporate earnings results, the BoE rate decision and reports of Brexit breakthrough.

The pan-European Stoxx Europe 600 index rose 0.4 percent. The German DAX also inched up 0.2 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both dipped 0.2 percent.

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