European markets are expected to open slightly higher on Thursday, offering a measured sign of confidence. Investors worldwide, however, remain alert as President Donald Trump’s trade tariffs could influence future growth and market momentum.

European stocks are forecast to begin the week with modest gains, especially in Germany, France, and Italy, while the U.K.’s FTSE index is expected to remain unchanged. With limited new economic data this Monday, regional markets may hinge on sentiment-driven movement.

European stock markets opened lower after reaching record highs earlier this week, as investors weighed the growing likelihood of a peace deal in Ukraine. While Asian markets showed mixed results, Goldman Sachs projected upside potential for European equities amid ceasefire optimism.