European stocks are set to open lower Tuesday morning, after a reignition of trade tension between the U.S. and China weighed on market sentiment.
FTSE 100, CAC and Dax indexes all set to open lower after Monday's heightening of trade tensions between the U.S. and China.100 is seen 27 points lower than its Friday close after U.K. markets were closed Monday for a public holiday, opening around 7,353. Meanwhile the CAC is expected to open around 20 points lower at 5,463, while the DAX is poised to start down around 25 points at 12,261, according to IG.Monday saw a market sell-off after U.S.
In Asia, Chinese markets staged a slight recovery in Tuesday's session after plunging 5% on initial trade news. The Shanghai composite rose 0.32% and the Shenzhen component added more than 1.6%, while the Shenzhen composite advanced 1.467%. Stateside, investors will be digesting the news that a Chinese delegation will travel to Washington to address Trump's tariff hike threats.
Back in Europe, reports Monday night revealed Italian banks have backed BlackRock's 720 million euro rescue plan for rival Carige, which will hand control of the Genoa-based bank to the U.S. asset manager.
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