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Good morning and welcome to Live Markets.
European stocks are called to open lower today even after Asian equities rose overnight on news that China has delivered a written response to U.S. trade demands.
Politics and falling oil prices continue to overshadow, with Brexit drama dominating the UK market and Italy’s deepening budget crisis and showdown with the EU Commission driving bond yields up and bank stocks down.
“While (Theresa May was able to achieve what she called collective approval from her cabinet to accept the deal, the gritted teeth consensus could well be tested in the coming days,” says Michael Hewson, chief market analyst at CMC Markets UK.
Financial spreadbetters call the DAX 30-35 points lower, the CAC40 is expected to open 11-15 points lower and the FTSE 100 will be flat to down 28 points, according to IG and CMC Markets UK.