Euro markets in mixed territory after a bad start for Asia stocks

Following the example of their Asian counterparts, European markets will begin trading with mixed sentiment as investors remain cautious about the outlook for global growth as President of China Xi Jinping tried to position the country as a champion of globalization.

Xi's opening speech launches the China Import Expo weekly, which aims to popularize the world's second-largest economy as a major consumer of global goods. The event announced more than a year ago will be in contradiction with the ongoing trade struggle between Beijing and Washington.

During the speech, Xi repeated his rhetoric against protectionism and encouraged his country as a defender of international openness and cooperation. He discussed in detail the benefits of open international economy and said China seeks "a new round of high-quality open" to expand market access to the rest of the world.

The United States has imposed tariffs on a comprehensive list of Chinese products. Beijing, for its part, failed to negotiate tariffs by offering to buy more goods from the US, but ultimately responding with duties on US products

The impact of the continuing trade war is felt as companies report higher production costs and forecasts. On Friday, the Chinese technology giant Alibaba cut its sales forecast for the whole year, citing concerns about the economic impact of the trade war.

Indicative opening prices of European stock indices:
UKX: 7,091 -16 points
DAX: 11,630 +77 points
CAC: 5,102 -11 points

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