LIVE MARKETS-Morning call: European shares seen higher

* European shares seen higher

* U.S., China sketch outlines of trade deal -sources

* Eyes on macro data, earnings updates Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.

MORNING CALL: EUROPEAN SHARES SEEN HIGHER (0621 GMT)

European shares are expected to open higher this morning, supported by renewed optimism over a possible trade deal between the United States and China and more patience signalled by the Federal Reserve.

Financial spreadbetters at IG (Frankfurt: A0EARV - news) expect London's FTSE to open 7 points higher at 7,235, Frankfurt's DAX to open 66 points higher at 11,468 and Paris' CAC to open 24 points higher at 5,220.

"Renewed signals of a trade agreement harvested a risk on sentiment overnight, putting fresh legs on the risk-on rally which had been showing signs of slowing," says Jasper Lawler, Head of Research at LCG.

According to sources familiar with the trade negotiations, the US and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war.

Later in the session eyes will be on a barrage of data in Europe with PMI squarely in focus.

"PMI figures from the bloc, in addition to German inflation and minutes from the ECB monetary policy meeting mean a volatile session could be ahead," adds Lawler.

Besides the macro, it's another heavy day for earnings reports.

(Danilo Masoni)

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