European stocks look set to open higher on Monday after China's retail sales and production data for November topped forecasts.
China's industrial production rose an annual 6.2 percent in November, the National Bureau of Statistics said, coming in above forecasts of 5.0 percent growth. Similarly, retail sales grew 8.0 from last year, above expectations of a 7.6 percent growth.
Asian markets are turning in a mixed performance as investors awaited fine details of the interim "Phase 1" agreement between the U.S. and China announced Friday.
Geopolitical issues also remained in focus days after North Korea conducted missile tests at a satellite launch site and set an end-of-year deadline for the U.S. to come up with a new denuclearization deal that would involve significant sanctions relief.
The British pound held up but was down slightly from Friday's 18-month highs against the dollar and more than three-year peak against the euro amid easing concerns surrounding Brexit. Gold eased while oil prices held near three-month highs.
U.K. house prices are forecast to climb 2 percent next year with strong performance in northern region compared to south, property website Rightmove reported earlier today.
Prices are expected to log a modest rise of 1 percent in southern region, while more northern regions will see price increases in the range of 2-4 percent.
Flash Purchasing managers' survey data from euro area is due later in the session, headlining a light day for the European economic news.
U.S. stocks ended Friday's session on a flat note despite U.S. and Chinese officials announcing a long-awaited agreement on a phase one trade deal after a contentious 18-month trade war.
The agreement includes suspending planned tariffs on Chinese goods as well as scaling back existing tariffs in exchange for Chinese structural reforms and purchases of U.S. goods.
However, the office of U.S. Trade Representative Robert Lighthizer said a 25 percent tariff on approximately $250 billion worth of Chinese goods will remain in place.
President Donald Trump called the phase one deal an "amazing deal for all" and said negotiations on a phase two deal would be begin "immediately, rather than waiting until after the 2020 election."
The tech-heavy Nasdaq Composite index rose 0.2 percent to a fresh record closing high, while the Dow Jones Industrial Average and the S&P 500 edged up marginally.
European markets closed higher on Friday as investors reacted positively to headlines of the U.S.-China trade deal and U.K. Prime Minister Boris Johnson's thumping victory in the country's general election.
The pan-European Stoxx 600 climbed 1.1 percent. The German DAX rose half a percent, France's CAC 40 index gained 0.6 percent and the U.K.'s FTSE 100 rallied 1.1 percent.