European stocks are set to open higher Friday morning, although underlying sentiment was soured by anxiety over ongoing global trade frictions.

The FTSE 100 is seen 40 points higher at 7,651; the CAC is expected to open up around 39 points at 5,308, while the DAX is poised to start 103 points higher at 12,261, according to IG.

Market focus is largely attuned to concerns over global trade, a week before initial U.S. and Chinese tariffs are due to take effect. President Donald Trump’s administration is set to activate tariffs on Chinese goods worth around $34 billion on July 6, which is then widely expected to trigger a tit-for-tat response from Beijing.

In Asia, equities rebounded from nine-month lows Friday. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose around 1 percent.

Back in Europe, political leaders reached a tentative agreement on migration after almost 10 hours of talks at a crunch summit in Brussels, Belgium, on Thursday. The deal, which falls short of an overall agreement to revise the EU’s asylum laws, is set to create new “centers” for housing and processing asylum seekers.

A European consensus on migration — one of the bloc’s most contentious issues — is thought to have helped German Chancellor Angela Merkel avert a political crisis at home.

On the data front, the euro area is expected to publish flash inflation data for June at around 10 a.m. London time.