5/22, 8:55 AM (Source: TeleTrader)
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Europe mixed in premarket with Brexit, trade in focus

European stock markets traded mixed during Wednesday's premarket session as investors focus on the latest developments surrounding the United Kingdom's departure from the European Union, as well on the lingering trade tensions between the United States and China.

Yesterday, British Prime Minister Theresa May outlined her new Brexit proposal that will be offered to MPs in the first week of June, which includes a vote on a possible second referendum. However, reports claimed that Tory backbenchers are trying to speed up the process of May's removal so that she doesn't have a chance to put her Brexit withdrawal bill forward.

Market watchers will also pay close attention to the US-China trade dispute following Washington's moves against Chinese telecommunications giant Huawei. However, the US temporarily defused the tensions yesterday by deciding to delay its measures against the company by 90 days.

The FTSE 100 was 0.33% higher in premarket trading while the DAX slipped 0.05%. In Paris, the CAC 40 was down 0.06% a few minutes before the opening bell. The euro was little changed against the dollar, selling for 1.1156 at 8:52 am CET, while the pound lost 0.16% versus the greenback to change hands for 1.2685 at the same time.

Breaking the News / FH