5/18/2018, 9:03 AM (Source:
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Europe opens mostly lower amid trade talks

European markets opened mostly in the red on Friday as new developments surrounding trade discussion between the United States and China emerge. On Thursday, President Donald Trump said he "doubts" a trade deal can be negotiated with Beijing as well as questioned an agreement with the European Union. "The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled," he told reporters.

Meanwhile in Italy, the anti-establishment League and 5-Star Movement drafted a government program which includes a proposal to ask the European Central Bank to forgive €250 billion of Italian debt.

The DAX opened flat, while the CAC 40 declined 0.28% as Vivendi dropped 2.80% as the worst performer of the index. In London, the FTSE 100 lost 0.18% with AstraZeneca declining 2.15% following the release of its earnings report. The euro gained 0.19% against the dollar at 9:08 am CET, buying 1.18165.

Breaking the News / JC