{"id":56981,"date":"2025-03-05T05:29:30","date_gmt":"2025-03-05T05:29:30","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/05\/european-shares-poised-for-higher-open-4\/"},"modified":"2025-03-05T05:29:30","modified_gmt":"2025-03-05T05:29:30","slug":"european-shares-poised-for-higher-open-4","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/05\/european-shares-poised-for-higher-open-4\/","title":{"rendered":"European Shares Poised For Higher Open"},"content":{"rendered":"
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European stocks look set to open on an upbeat note Wednesday, a day after U.S. President Donald Trump’s trade war drew swift retaliation with new tariffs from Mexico, Canada and China.<\/p>\n

Offering a temporary reprieve from tariff worries, U.S. Commerce Secretary Howard Lutnick hinted that some relief could be around the corner for Canada and Mexico.<\/p>\n

A potential deal is expected to involve reducing, at least partially, the new 25 percent tariffs on imports from both countries.<\/p>\n

Elsewhere, Beijing announced a 2025 economic growth target of around 5 percent and pledged additional fiscal support to counter the effects of deflation, a property crash and rising U.S. tariffs.<\/p>\n

The special initiatives to boost consumption include proposals to cut the reserve ratios and interest rates, issue special treasury bonds to support state-owned lenders in replenishing capital and use monetary policy instruments to bolster property and stock markets<\/span>.<\/p>\n

There is also some cheer on the data front as a private survey showed China’s services sector grew more than expected in February, driven by a faster rebound in demand.<\/p>\n

Asian markets traded mixed, and the dollar held near a three-month low versus major peers while gold slipped, influenced by higher Treasury yields.<\/p>\n

Oil prices extended losses for a third straight session on demand concerns and amid the prospect of higher supplies from OPEC+.<\/p>\n

Trading later in the day may be impacted by reaction to the latest U.S. economic data, including reports on private sector employment, service sector activity and factory orders.<\/p>\n

Closer home, Eurozone HCOB services PMI data may garner some attention ahead of the release of Eurozone retail sales data and the ECB rate decision on Thursday. <\/p>\n

U.S. stocks slumped overnight amid escalating trade tensions and mounting concerns about growth.<\/p>\n

The tech-heavy Nasdaq Composite ended 0.4 percent lower after having plunged by as much as 2.1 percent to a nearly five-month intraday low.<\/p>\n

The S&P 500 fell 1.2 percent to a four-month closing low while the Dow gave up 1.6 percent.<\/p>\n

European stocks fell from record highs on Tuesday as fresh U.S. tariffs on Canada, Mexico and China took effect, and China and Canada announced retaliatory measures.<\/p>\n

The pan European STOXX 600 tumbled 2.1 percent and logged its worst day since August 2024.<\/p>\n

The German DAX plunged 3.5 percent after the prospective partners in Germany’s next government agreed to abandon strict fiscal controls to boost defense spending.<\/p>\n

France’s CAC 40 plummeted 1.9 percent and the U.K.’s FTSE 100 lost 1.3 percent. <\/p>\n<\/p>\n<\/div>\n