European stocks head for mixed open after May 1 break as investors assess China-U.S. relations
European stocks are heading for a mixed open on Friday, as investors assess a signal that China is seeking trade negotiations will the U.S.
Germany’s DAX and France’s CAC 40 were seen opening lower, according to IG data, with U.K. stocks moving higher.
Most markets were closed on Thursday for the May 1 holiday. London’s FTSE 100 ended a choppy session 0.02% higher to mark its 14th straight session in the green, drawing level with its best run since 2017.
Earnings in Europe on Friday include bank Standard Chartered, which beat estimates with a 10% gain in first-quarter profit, Natwest and Shell.
April data on the preliminary euro zone inflation rate is due to be released at 10 a.m. London time.
Asia-Pacific markets moved higher on Friday after China said that it was evaluating the possibility of trade talks with the White House. Authorities reiterated Beijing’s request for the U.S. to remove all unilateral tariffs, which have taken duties on Chinese imports to triple digits.
Earlier this week, U.S. Treasury Secretary Scott Bessent said it was “up to China to de-escalate” the situation, which is driving up U.S. consumer goods prices as it slows Chinese economic activity.
Sentiment on Wall Street was buoyed on Thursday by better-than-expected earnings from Meta and Microsoft, though Apple and Amazon fell in extended trading after more disappointing results.
Source: CNBC
