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LIVE MARKETS-European stocks pause as Canada tariffs lifted, oil jumps

Reuters - UK Focus

May 20 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net

EUROPEAN STOCKS PAUSE AS CANADA TARIFFS LIFTED, OIL JUMPS (0525 GMT)

European shares are expected to open mixed this morning after a volatile week. The U.S. lifting tariffs on Canadian steel and aluminium is a much-needed boost to sentiment around trade, while oil will also be a support. The oil-heavy FTSE 100 is expected to rise.

Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America.

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The U.S. announced on Friday that it would remove tariffs on Canadian steel and aluminium, prompting Canada's foreign minister to vow the quick ratification of a new North American trade agreement.

Crude prices jumped after Saudi Energy Minister Khalid al-Falih said there was consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories.

Financial spreadbetters expect London's FTSE to open 10 points higher at 7,358, Frankfurt's DAX to open 5 points lower at 12,234, and Paris' CAC to open 6 points lower at 5,432.

(Helen Reid)

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