European stock markets are mostly lower,
European stock markets are mostly lower, with the FTSE 100 outperforming thanks for a weaker pound, but also up a mere 0.11%, while the DAX is down -0.20% and the Euro Stoxx 50 -0.17%. Not necessarily a return of risk aversion, but a sign that investors ware weary after yesterday's rally and will likely want to see a fresh trigger before pushing valuations out further. The U.S. and China did hold another phone conference on trade yesterday, but while media reports suggest that there is broad agreement on a phase one deal, the details are still not fixed. Against that background U.S. futures are little changed. Asian markets closed mostly higher, although the Hang Seng, which outperformed yesterday, lost -0.29%, as there were no signs that HK leader Carrie Lam will make new concessions after the strong support for pro-democracy parties in local elections, which is feared to lead to new protests. Topix and Nikkei meanwhile managed to move up 0.2% and 0.4% respectively and CSI 300 and Shanghai Comp lifted 0.4% and 0.03%, while the ASX outperformed and rallied 0.8%.