European markets were struggling to gain momentum Friday as the dollar declined on reports that Robert Mueller issued a subpoena to the Trump campaign requesting Russia-related documents.
The FTSE 100 was down 0.38%, or 28.07 points, to 7,358.7 as the pound gained against the dollar. France's Cac 40 drifted lower to 5,320.09, losing 0.32% or 17.33 points. The Dax lost 0.09%, or 11.07 points, to 13,036.89
Wall Street looked to set to open lower, despite a late day rally Thursday on strong earnings from Walmart (WMT) and Cisco (CSCO) buoyed the market and the House of Representatives voted largely along party lines to a pass the tax overhaul bill. S&P mini futures were down 0.14% and Dow Jones mini futures lost 0.09%.
The U.S. dollar dropped against a basket of other currencies in the early part of the Friday trading in Asia after reports that President Donald Trump's campaign team was served with a subpoena last month requesting documents related to Russia. The dollar index fell 0.1% to 1,172.41, the lowest in four weeks.
The move drove the pound up 0.37% to $1.32424, its highest intraday level in more than two weeks, ahead of a key meeting between Prime Minister Theresa May and European Council President Donald. The U.K. is hoping talks will get the green light to move on to the future relationship with the bloc.
The Topix climbed 0.1% at the close for the week in Tokyo, after advancing as much as 1.2%. This was the worst week for the index since April The Nikkei 225 Stock Average rose 0.2%, trimming earlier gains.
Meanwhile Hong Kong's Hang Seng was up 0.8% and the Shanghai Composite Index was up 0.39%.
Gold gained 0.27% to $1,281.99 an ounce. West Texas Intermediate was up 0.51% to $55.42 a barrel, heading for its firstly weekly loss since the beginning of October. Brent Crude was up 0.05% to $61.39 a barrel.
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