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European Shares Little Changed As Trade Concerns Resurface


European stocks were little changed on Wednesday as trade worries resurfaced and investors awaited cues from the U.S. earnings season.

U.S. President Donald Trump has threatened to impose tariffs on another $325 billion worth of Chinese goods, saying the U.S. still has a long way to go to conclude a trade deal with China.

In addition, robust U.S. retail sales data released overnight helped lower expectations of an interest rate cut by the U.S. Federal Reserve.

The pan European Stoxx 600 was marginally higher at 389.22 in opening deals after rising 0.4 percent in the previous session.

The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 all were trading flat with a negative bias.

Chip equipment maker ASML Holding soared 4.7 percent after posting better-than-expected quarterly results.

Sweden's Swedbank slumped 5.4 percent after slashing dividend.

Specialty biopharmaceutical company Orphan Biovitrum jumped 13 percent after it forecast full-year profit and sales growth.

Shares of Ericsson lost around 6 percent after the networking and telecom company warned on its gross margin going ahead.

Brenntag AG shares were moving lower. The German chemical wholesaler adjusted its full year outlook, saying there was a noticeable slowdown in demand in June leading to an impact on earnings.

Dialog Semiconductor rallied 2.4 percent. The chip designer said it now sees higher-than-anticipated profitability and revenues in the second quarter.

Energy giant BP Plc and Tullow Oil fell around 2 percent in London after oil prices fell sharply overnight on data showing a smaller-than-expected decline in inventories.

Premier Oil lost about 1 percent despite cutting its forecast for 2019 operating costs.

Vectura Group gained 1 percent after it made a positive start to trading during first half 2019.

Mining firm Fresnillo fell more than 1 percent after cutting its 2019 output targets.

In economic releases, Eurozone consumer inflation rose by a revised 1.3 percent year-on-year in June, slightly faster than the 1.2 percent rise in May, according to final data from Eurostat. The flash estimate showed a steady growth of 1.2 percent in June.

U.K. consumer prices increased 2 percent year-on-year in June, the same pace of growth as seen in May and in line with expectations.

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