Europe's main stock markets steadied at the start of trading on Wednesday following a recovery on Wall Street and in Tokyo.
London's benchmark FTSE 100 index inched up 0.1% to 7 034.93 points compared with the close on Tuesday.
Oil held above $63 a barrel on cautious optimism that the market will re-balance as OPEC production falls, while investors keep a wary eye on US supplies.
Futures in New York slipped 0.4% after climbing 0.8% on Tuesday. Output from the Organisation of Petroleum Exporting Countries dropped to the lowest in a year in March. In the US, where supplies have threatened to undermine OPEC’s curbs, an industry report said inventories slid last week. Still, government data due on Wednesday is forecast to show stockpiles rose for the fifth time in six weeks.
Stocked plummeted early Wednesday after trade tensions escalated between China and the United States. China announced plans for a 25% tariff on $50 billion a year worth of American exports, including plans, cars, soybeans and chemicals.
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