European stocks poised to open lower despite easing U.S.-China tensions

In corporate news, British luxury giant Burberry just announced a slew of organizational changes, as part of continued turnaround efforts at the embattled luxury house.

CNBC's Karen Gilchrist is reporting on the measures, which were announced as the company's quarterly earnings report showed sales fell less than expected in the three months to March.

Global stocks rallied earlier this week after the U.S. and China announced a 90-day pause on most of the tariffs they had slapped on each other's goods in recent weeks. The Stoxx 600 gained 1.2% on Monday, after details on the deal were made public.

— Chloe Taylor

Holiday operator TUI Group missed top line expectations owing to a shift in Easter holidays to the third financial quarter.

The company said revenues were "modestly" higher by 1.5% to 3.7 billion euros ($4.14 billion) for its third financial quarter ending March 31, missing analyst expectations of 3.86 billion euros. It also reported an adjusted loss of 207 million euros, better than the expected 226.1 million loss.

However, TUI maintained its full-year revenue guidance, adding that total sales were expected to rise between 5% and 10%.

"We expect a small positive reaction as the strong profitability and continued [average sale price] growth for summer bookings offsets the deceleration in booking volumes – even with the Easter impact," said Citi's equity analyst Leo Carrington in a note to clients. "With the company reiterating its [2025 financial year] guidance, we don't expect material changes to consensus estimates at this stage."

— Ganesh Rao

CNBC's Holly Ellyatt reported this morning that British businesses are concerned about a labor shortage arising from U.K. government plans to tighten immigration policy.

The British government on Monday announced plans to cut migration to the U.K., tightening the rules on who can come to work, study and live in the country. The proposals raise English-language requirements for migrants, as well as the skills and level of education they need to obtain work visas. 

Read Holly's story in full here.

Germany's annual harmonized inflation rate stood at 2.2% in April, data from the country's Federal Statistical Office showed on Wednesday.

The data release confirmed preliminary figures released at the end of last month.

— Chloe Taylor

Good morning from London.

European stock markets are expected to open lower, paring some of the gains seen earlier this week after the U.S. and China agreed to a trade truce.

Futures point to the Stoxx Europe 600, Germany's DAX and the French CAC 40 all opening 0.2% lower, while the FTSE 100 is slated to shed 0.3%.

Investors are looking ahead to earnings updates from Burberry, TUI, Imperial Brands, Experian, Compass Group, Telefonica and EON.

— Chloe Taylor