European markets open lower on Brexit, US-China trade talks

Finance news

European stocks start Tuesday’s session in the red, following on from the volatile session seen in Asia-Pacific markets.

The pan-European Stoxx 600 was down by 0.2 percent with every sector in the red.

Overall, investors kept abreast of the ongoing talks between the U.S. and China. On Monday, President Donald Trump said that he could sign a deal in the near future, in regards to ending the trade war with China, Reuters reported.

While an agreement has yet to be secured, Trump stated that negotiators from both countries were “very, very close” to a deal materializing, the news agency added. On Tuesday, Asian stocks dipped into the red, as investors awaited further clarity on the matter.

Elsewhere, Brexit remains at the front and center for European politics. On Monday, the British opposition Labour Party indicated that it would back calls for a “People’s vote” on the U.K.’s impending departure from the European Union, if parliament vetoed the party’s alternate Brexit proposal. On top of that, sterling rose after Bloomberg reported that Prime Minister Theresa May was considering delaying the current deadline for the U.K. to leave the EU. The U.K.’s departure from the bloc is currently timetabled for March 29.

On the corporate front, PSA, BASF, Standard Chartered, Travis Perkins and Persimmon are all slated to publish business updates on Tuesday.

In central banking news, European Central Bank board member Yves Mersch is set to deliver a keynote speech at 3rd Annual Conference on “FinTech and Digital Innovation: Regulation at the European Level and Beyond” in Brussels.

No major economic data is scheduled for Tuesday.

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