European Shares Seen Broadly Lower; FTSE 100 Set For Higher Open
(RTTNews) - European stocks are seen opening mixed on Tuesday, with U.K. markets likely to rise as traders return to their desks from a long holiday weekend.
Futures on the Wall Street maintained gains while Asian markets traded mixed as jitters persist over U.S. tariffs and fiscal deficit.
Investors ignored data that showed China's industrial profits rose at a faster pace in April despite trade tensions and deflationary pressures.
China's central bank has asked its major lenders to raise the share of yuan when facilitating cross-border trade, Bloomberg News reported, citing people familiar with the matter.
Elsewhere, Bank of Japan Governor Kazuo Ueda gave the yen a boost by saying the central bank is still eyeing more rate hikes, if the economy improves as expected.
The dollar struggled for direction as focus shifted to debate in the U.S. Senate on President Trump's tax-cut bill and its implications for the U.S. debt profile.
The euro gained, with European Central Bank president Christine Lagarde sensing a unique opportunity for the currency to expand its global influence.
Gold hovered near a two-week high while oil edged lower ahead of an OPEC+ meeting that will decide on supply policy.
U.S. markets were closed on Monday in observance of Memorial Day. In Europe, stocks ended higher on Monday as U.S. President Trump postponed the implementation of 50 percent tariffs on the European Union goods to July 9 from June 1.
The pan European STOXX 600 gained 1 percent. The German DAX rallied 1.7 percent and France's CAC 40 added 1.2 percent while the U.K. market was shut for Spring Bank Holiday.
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