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European Shares Seen Subdued On Growth Woes


European stocks may open slightly lower on Thursday amid growth worries, a day after ECB President Mario Draghi confirmed slower growth momentum in the euro zone.

Federal Reserve officials also remain worried about slowing economic growth abroad and the fading effects of President Trump's tax cuts, minutes from the Fed's March meeting showed overnight.

Asian stocks edged lower in cautious trade while the dollar hovered near two-week lows in view of a dovish turn by the European Central Bank and tame inflation data from the U.S.

On the trade front, U.S. Treasury Secretary Steven Mnuchin said that a call with Chinese Vice-Premier Liu He on Tuesday night was productive and the two sides have settled on a mechanism to police any agreement, including new enforcement offices.

U.S. Treasury yields weakened on expectations that the Fed would hold rates steady or possibly cut them by the end of the year.

The British pound was trading flat after the U.K. and the EU agreed a "flexible extension" of Brexit until 31 October.

Oil prices dipped after data showed U.S. crude stockpiles surged to their highest levels in almost 17 months amid record production.

U.S. stocks rose overnight as U.S. core inflation rose less than forecast in March and minutes of the Federal Reserve's latest monetary policy meeting suggested that interest rates could shift in either direction.

The Dow inched up marginally, while the S&P 500 gained 0.4 percent and the tech-heavy Nasdaq Composite added 0.7 percent to reach its best closing level in over six months.

European markets ended mostly higher on Wednesday as the ECB held interest rates steady, as widely expected.

The pan European Stoxx 600 inched up 0.3 percent. France's CAC 40 index rose by 0.3 percent and the German DAX gained half a percent while the U.K.'s FTSE 100 slipped 0.1 percent.

U.S. reports on weekly jobless claims and producer prices may attract attention later today along with remarks by several Fed officials.

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