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European Shares Set For Tepid Start As Growth Worries Resurface


European stocks look set to open lower on Tuesday after the IMF cut its estimate for global growth, citing a range of triggers beyond escalating trade tensions.

As China's economy slows down, President Xi Jinping told a "seminar" of top provincial leaders and ministers in Beijing on Monday that the Communist Party needed greater efforts "to prevent and resolve major risks".

Asian stocks are broadly lower on global growth concerns as the IMF put global growth estimate at 3.5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point, respectively, from last October's forecasts.

On the Brexit front, British Prime Minister Theresa May unveiled her Brexit "Plan B" to parliament on Monday, following a major setback on the EU withdrawal agreement in Parliament last week.

The dollar weakened broadly while oil edged down on concerns over future fuel demand.

The U.S. financial markets were closed on Monday for the Martin Luther King Jr. Day holiday.

European markets ended Monday's session lower after data showed China's GDP growth slowed to its slowest pace in about three decades.

The pan-European Stoxx 600 eased 0.2 percent. The German DAX declined 0.6 percent and France's CAC 40 index slipped 0.2 percent while the U.K.'s FTSE 100 edged up slightly.

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