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European stocks seen higher on renewed trade optimism

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European stocks were seen opening higher Monday as renewed optimism over U.S.-China trade talks looked set to reignite a risk-on approach from investors.

Hopes for progress in ongoing trade talks between the world's two largest economies were boosted Sunday when U.S. Commerce Secretary Wilbur Ross said that licenses would be granted "very shortly" for American firms to sell to Chinese telecommunications giant Huawei.

Huawei was among a list of Chinese firms blacklisted by the Commerce Department over alleged national security threats. Ross also offered more detail on a prospective partial deal expected to be signed by President Donald Trump and Chinese President Xi Jinping. Shares in Asia Pacific advanced on Monday afternoon in response to the news, led by Hong Kong's Hang Seng index which climbed 1.28%.

Back in Europe, October manufacturing data out of Spain, Italy, France, Germany and the euro zone as a whole is due for publication Monday morning.

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