European Shares To Open Lower As Dollar And Oil Dip

Paris (June 19)  European stocks look set to open lower on Tuesday as US President Donald Trump threatened more tariffs on Chinese goods in an escalating tit-for-tat trade war between the world's two biggest economies.

The dollar fell against the yen and Swiss franc, and oil dipped on supply worries, while gold inched higher on safe-haven buying.

OPEC's production policy will dominate the agenda when the world's major oil producers meet in Vienna on Friday.

Asian markets extended Monday's slide as the US-China trade dispute escalated.

Trump threatened on Monday to impose new tariffs on USD200 billion of Chinese goods, prompting a swift warning from Beijing. China's Commerce Ministry criticized the White House action as blackmail and warned it would retaliate.

Overnight, US stocks ended mixed on concerns that rising trade tensions between the US and China could derail global economic growth. Disappointing housing market data also weighed on markets.

The Dow Jones Industrial Average dropped 0.4% to end lower for the fifth consecutive session and the S&P 500 eased 0.2% while the tech-heavy Nasdaq Composite managed to finish marginally higher.
European markets ended Monday's session firmly in negative territory as trade war worries and political uncertainty in Germany spooked investors.

The pan-European Stoxx Europe 600 index shed 0.8%. The German DAX fell 1.4% and France's CAC 40 index lost 0.9% while the UK's FTSE 100 ended little changed with a negative bias.

RTTnews