BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open higher on Monday after U.S. President Donald Trump said he would push back the March 1 deadline for additional tariffs on Chinese goods, citing 'productive talks' over the weekend on important structural issues.
Asian markets are trading mostly higher, with China's Shanghai Composite index climbing as much as 5 percent amid fresh optimism on the trade front.
China's official Xinhua news agency said in a commentary that the goal of an agreement was getting 'closer and closer', but there could be new uncertainties in the final stage of negotiations.
The U.S. dollar eased as investors kept an eye on Federal Reserve Chairman Jerome Powell's testimony to Congress on economy and monetary policy.
This week's U.S. economic calendar also promises to keep investors active, with reports on housing starts, factory orders, pending home sales, fourth quarter GDP and manufacturing activity scheduled for release.
The British pound remained supported by media reports suggesting that Prime Minister Theresa May put off a so-called 'meaningful vote' on her Brexit deal until as late as March 12 - just 17 days before Britain is due to leave the EU.
U.S. stocks rose on Friday to reach their best closing levels in over three months as investors cheered signs of progress in trade talks between the U.S. and China.
The Dow Jones Industrial Average climbed 0.7 percent, the tech-heavy Nasdaq Composite gained 0.9 percent and the S&P 500 added 0.6 percent.
European markets ended Friday's session mostly higher, with hopes for a truce in the U.S.-China trade war and a soft Brexit helping underpin investor sentiment.
The pan European Stoxx 600 inched up 0.2 percent. The German DAX rose 0.3 percent, France's CAC 40 index gained 0.4 percent and the U.K.'s FTSE 100 inched up 0.2 percent.
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