European stocks set to inch lower as investors ease into holiday season

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European stocks were set to open marginally lower on Friday as investors eased off ahead of the holiday season.

Investors worldwide have seemed content to take the substantial gains generated by positive news on U.S.-China trade over the past month heading into the festive period.

U.S. Treasury Secretary Steven Mnuchin said on Thursday that the U.S. and China would sign their so-called phase one trade accord early in January following a technical "scrub."Back in Europe, Financial Conduct Authority Chief Executive Andrew Bailey is set to be named the new governor of the Bank of England, replacing the departing Mark Carney, according to the Financial Times.

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