European markets open higher amid lingering trade concerns

Business

European stocks opened higher Wednesday, as investors looked ahead to an all-important G-20 summit later this week.

The pan-European Stoxx 600 was up around 0.46 percent shortly after the opening bell, with most sectors and major bourses in positive territory.

As the latest G-20 summit draws closer, investors continue to closely monitor simmering tensions between the world’s two largest economies. Earlier this week, President Donald Trump told the Wall Street Journal that it was “highly unlikely” Washington would delay from increasing tariff levels to 25 percent on $200 billion of Chinese goods.

On Tuesday however, White House economic advisor Larry Kudlow appeared to ease fears, saying the U.S. administration had resumed discussions with China’s government “at all levels.”

Trump and Chinese premier Xi Jinping are expected to have dinner together when they meet at the G-20 summit in Argentina this weekend.

Sticking with the States, investors around the globe will be awaiting the latest comments from Federal Reserve Chairman Jerome Powell, who’s scheduled to speakabout the central bank’s framework surrounding financial stability later in the trading session.

Back in Europe, concerns surrounding Brexit continue to rumble on. After leaders from the EU endorsed the Brexit withdrawal deal laid out by U.K. Prime Minister Theresa May, investors are now turning their attention to Britain’s deeply divided Parliament.

May is urgently trying to rally enough lawmakers to support her Brexit deal — a daunting task given the broad criticism it has received. British lawmakers will vote on the proposal on December 11.

Elsewhere, Italy’s economy is likely to be closely monitored by market participants. On Tuesday, deputy Prime Minister Matteo Salvini said he would like to prevent any EU disciplinary action concerning the country’s budget for next year, Reuters reported.

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