LIVE MARKETS-Morning call: Drifting higher amid trade war pressures

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MORNING CALL: DRIFTING HIGHER AMID TRADE WAR PRESSURES (0629 GMT)

European stocks are seen inching up this morning after an eventful weekend with a summit of Asia-Pacific leaders in Papua New Guinea failing to agree on a communique for the first time in their history due to deep divisions between the U.S. and China over trade.

Share (LSE: SHRE.L - news) markets turned mixed in Asia on Monday amid conflicting signals on the prospects for a truce in the Sino (Dusseldorf: 1205802.DU - news) -U.S. trade dispute, while the Federal Reserve's newly-found concerns over the global economy constrained the dollar.

Sino-U.S. tensions were clearly on display at an APEC meeting in Papua New Guinea over the weekend, where leaders failed to agree on a communique for the first time ever.

U.S. Vice President Mike Pence said in a blunt speech that there would be no end to U.S. tariffs on $250 billion of Chinese goods until China changed its ways.

According to CMC Markets (LSE: CMCX.L - news) , the FTSE 100 is expected to open 2 points higher at 7,015, the DAX is seen opening 4 points higher at 11,345, and the CAC 40 is expected to open 6 points higher at 5,031.

(Helen Reid)

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(Reporting by Helen Reid, Danilo Masoni, Julien Ponthus)