BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks look set to open flat to slightly higher on Friday, driven by hopes of progress in U.S.-China trade talks.
Most Asian markets fell in cautious trade after White House economic adviser Larry Kudlow maintained his threat to impose new tariffs on Chinese goods if talks do not end in progress at the Group of 20 summit in Japan starting today.
Kudlow also said there are no preconditions set for the U.S.-China trade meeting.
The Wall Street Journal had reported Thursday that China President Xi Jinping is expected to present the U.S. trade coalition with a set of terms, including the lifting of ban on the sale of U.S. technology to Huawei before Beijing will settle the trade dispute.
Safe-haven assets remain in demand, with the yen rising and gold heading for a sixth weekly gain in a row, as investors digested mixed messages on the trade front. Oil prices eased in cautious trade ahead of next week's key OPEC output meeting.
Survey results from GfK showed earlier today that U.K. consumer confidence weakened more-than-expected in June as households were more concerned about future economic and personal situation.
The consumer sentiment index fell to -13 in June from -10 in May. The reading was expected to drop marginally to -11.
Flash inflation figures from euro area are due later in the day, headlining a hectic day for the European economic news.
Across the Atlantic, reaction to news out of the G20 summit in Japan as well as reports on personal income and spending, Chicago-area business activity and consumer sentiment may sway market sentiment.
Overnight, U.S. stocks ended mostly higher, although the Dow edged down marginally amid a steep drop by shares of Boeing. The S&P 500 gained 0.4 percent and the tech-heavy Nasdaq Composite index added 0.7 percent.
European markets ended Thursday's session mixed as caution prevailed ahead of the Trump-Xi meeting.
The pan European Stoxx 600 ended on a flat note. The German DAX rose 0.2 percent, while France's CAC 40 index slid 0.1 percent and the U.K.'s FTSE 100 eased 0.2 percent.
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