European equities slipped shortly after the opening bell today, following a mixed trading session in Asia. Investors sentiment is becoming more and more difficult to sustain as optimism towards a positive outcome of the U.S.-China trade dispute is fading. Investors brace for the worst as the deadline for the next round of tariff from both blocs is getting closer and closer (September 1st). While President Trump’s frequent attacks towards the FED raises more and more concerns for some investors, China seems to be ready to play a long game with the U.S., possibly betting on a change of the stance of the administrations with the 2020 Presidential election looming in Washington.
In Europe, there is a little more optimism over the options for Brexit after the U.K. Government is said to be ready to restart talks with the EU as it sees room for a deal negotiation. The FTSE-100 index is trading higher, moving towards 7,100.0pts after a solid rebound registered over the 7,040.0-price level. A clearing of the 7,100.0 level could lead the market up to 7,120.0pts and 7,145.0pts by extension on a very short-term basis if the current optimistic mood persists.
In Europe, Tech shares and Insurers are leading the decline as the Stoxx-50 index went back to the 3,350.0pts support zone. A deeper corrective move may drive the market to 3,330.0pts whereas a rebound over 3,350.0pts will be likely to send the market higher, towards 3,380.0pts.
