European Stocks Open Lower Ahead Of G20 Meeting

European stocks started to fall on Friday ahead of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Argentina. Trump said he liked the current deal with Beijing but was about to reach a new deal with Shi.

Meanwhile, it is reported that the United States and China are working on a new business deal. Trump's meeting with Russian President Vladimir Putin was also canceled.

At the European level, Germany's retail sales data and the import price index were released amid news from Italy about a reduction in the budget deficit

Reports: Italy is ready to reduce the target budget gap to 2%

With Italian Prime Minister Giuseppe Conti and Economy and Finance Minister Giovanni Treya preparing to change a spending plan that would cut the deficit to 2% from 2.4% in an effort to avoid EU sanctions, reports said on Friday. Which did not mention the names of the sources. The surprise sign came after the government said it would review the budget amid intense criticism from Brussels.

News reports said the new framework included a delay in promised interventions in the welfare and pension systems, which translates into a major compromise. Conte and Tria are in Argentina, attending the G-20 summit, and are reportedly planning to offer the initiative to EU leaders. Several media organizations quoted the finance minister as saying any disciplinary action could still be avoided.

European indices open

• The FTSE 100 fell 0.30% at 09:15 CET.
• The DAX fell 0.33% at 9:15 CET. Daimler was the worst performer, falling 2.69% at 09:19 CET.
• The CAC 40 index was 0.27% higher in the red zone at 9:16 CET.
• The Euro Stoxx 50 index fell 0.15% at 9:17 CET.