European markets edge lower amid US-China trade talks; Argenx shares climb 6%

European stocks are set to open lower Wednesday morning, as investors continue to monitor trade talks between the world’s two largest economies.

The FTSE 100 is seen down around 23 points at 7,548; the CAC is expected to open 8 points lower at 5,403, while the DAX is poised to start down around 15 points at 12,368, according to IG.

Market focus is largely attuned to trade discussions between the U.S. and China this week, with investors hopeful they might be able to find a way to resolve an escalating global trade conflict.

President Donald Trump reportedly said Monday that he did not anticipate much progress from the trade negotiations.

In Asia, stocks eked out gains Wednesday, with sentiment boosted by Wall Street’s rise and a record intraday high for the S&P 500 in the previous session. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.3 percent.

Stateside, S&P futures turned lower Wednesday morning as market participants assessed the potential impact of a guilty plea from Trump’s former personal lawyer, Michael Cohen, and the conviction of former Trump campaign chairman, Paul Manafort.

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