BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open largely unchanged on Monday after White House economic adviser Larry Kudlow signaled the tariff war with China could keep going for a while longer.
The world's two biggest economies appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any 'bitter fruit' that harmed its interests.
Asian shares slipped as investors await retaliation from China over increased tariffs. The offshore Chinese yuan hit its lowest levels in more than four months and oil futures were mixed while gold prices held steady.
U.S. stocks recovered from an early slide to close higher on Friday after U.S. Secretary of Treasury Steven Mnuchin and President Donald Trump indicated that bilateral talks were 'constructive' even though an agreement was not reached.
The Dow Jones Industrial Average and the S&P 500 rose around 0.4 percent, while the tech-heavy Nasdaq Composite inched up 0.1 percent.
European markets finished mostly higher on Friday despite the U.S. increasing the tariffs on over $200 billion worth of Chinese goods,
The pan European Stoxx 600 rose 0.3 percent. The German DAX climbed 0.7 percent and France's CAC 40 index gained 0.3 percent while the U.K.'s FTSE 100 slipped 0.1 percent.
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