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European Shares Seen Subdued On Trade Concerns


European stocks may open lower on Wednesday after U.S. President Donald Trump turned up fresh pressure on China, saying there's a "long way to go" on a trade pact with Beijing and that he would look into concerns raised by investor Peter Thiel about Google's relationship to the Chinese government.

Asian markets are trading mixed following Trump's renewed threat of more tariffs on Chinese goods.

The U.S. dollar got a lift from robust U.S. retail sales data released overnight while gold slid but still held above the $1,400 level.

Oil prices rose after tumbling more than 3 percent overnight on news that Trump and his administration are ready to start talks with Iran.

Consumer and producer prices from the U.K. are due later in the day, headlining a light day for the European economic news.

Across the Atlantic, a report on housing starts may attract some attention today along with the Fed's Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts.

U.S. stocks ended modestly lower overnight as trade worries resurfaced and robust retail sales data lowered expectations of an interest rate cut by the U.S. Federal Reserve.

Fed Chair Jerome Powell told a dinner audience at the Bank of France in Paris on Tuesday the central bank is "carefully monitoring" downside risks to U.S. growth and "will act as appropriate to sustain the expansion."

The Dow Jones Industrial Average hit a new record intraday high before reversing direction to end the session down 0.1 percent. The tech-heavy Nasdaq slid 0.4 percent and the S&P 500 shed 0.3 percent.

European markets ended Tuesday's session higher as investors digested a slew of earnings reports.

The pan European Stoxx 600 advanced 0.4 percent. The German DAX rose 0.4 percent, France's CAC 40 index gained 0.7 percent and the U.K.'s FTSE 100 added 0.6 percent.

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