LIVE MARKETS-Euphoria fades

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EUPHORIA FADES (0524 GMT)

European stocks are expected to falter today as the exuberance over increasingly dovish stances of U.S. and European central banks starts to wane, investors lock in some of the profits of the past week, and attention turns to growing tensions between Washington and Tehran.

A pause is to be expected given the recent run-up that saw Wall Street hit records again overnight.

And the pan European STOXX 600 is on track for a 5% rise this month, its best since January and after solid gains yesterday and Tuesday it's close to recapturing all the ground lost in May when Trump escalated his dispute with Beijing with fresh tariff threats.

"From the high expectations towards positive progress for Sino-U.S. trade relations at the G-20 summit next week, to rising geopolitical concerns and a global economic slowdown, the potential for stumbles are still great, and the current rally we have seen could be fuelled by hope rather than reality," says Samuel Siew, investment analyst at Phillip Futures in a note this morning.

"Therefore, while markets could still be supported over the next few days, risk adversity may eventually build up closer to the G-20 summit date."

CMC Markets is calling the FTSE 100 20 points lower at 7,404, the DAX to open 50 points lower at 12,305 and CAC 40 to open 15 points lower at 5,520.

(Josephine Mason)

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(Reporting by Danilo Masoni, Helen Reid, Josephine Mason and Thyagaraju Adinarayan)