European stocks were set to open higher Friday morning as traders digest optimistic sounds out of the White House on a prospective trade deal between the U.S. and China.
White House economic adviser Larry Kudlow claimed on Thursday that phase one of a trade deal between the world's two largest economies was "getting close," according to Reuters, while Chinese Ministry of Commerce spokesman Gao Feng continued Beijing'sStocks in Asia Pacific mostly advanced on Friday as investors reacted to the developments, with South Korean and Australian indexes leading gains.
Back in Europe, the EU executive launched a legal case against the U.K. on Thursday for failing to name a new representative at the European Commission, while data Thursday revealed that British consumer spending slowed in October, furthering suspicions that the economy is losing momentum ahead of December's general election.
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