European stocks opened slightly higher Wednesday morning, as investors awaited a fresh batch of economic data.
The pan-European Stoxx 600 was up around 0.1% during early morning deals, with most sectors and major bourses in positive territory.
Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election.
Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019.
Earlier in the week, Trump threatened to slap duties against French goods and imposed tariffs on Argentina and Brazil imports. It appears to have dampened market sentiment at a time when many had hoped the U.S. and China might be able to de-escalate an ongoing trade war.
On the data front, Italy will publish composite PMI (Purchasing Managers’ Index) figures for November shortly after the opening bell.
France and Germany will both release Markit services PMI data for November slightly later in the session, while a final reading of euro zone Markit services PMI data for November will be released at around 9 a.m. London time.
In the U.K., several world leaders have gathered in London to mark the 70th anniversary of NATO.
The U.S. president is scheduled to hold a bilateral meeting with German Chancellor Angela Merkel, before holding a working lunch with representatives from the U.K., Greece and some central and eastern European countries.