India, June 27 -- European stocks look set to open higher on Thursday as optimism prevails ahead of the highly anticipated meeting between President Donald Trump and Chinese leader Xi Jinping at the G-20 summit in Japan this week.

Trump voiced optimism over the possibility of a trade agreement with China but said he is still considering imposing "very substantial" tariffs on all Chinese imports if the two countries were unable to reach a deal during the meeting.

Separately, U.S. Treasury Secretary Steven Mnuchin told CNBC the U.S. and China had nearly completed a deal before talks broke down last month.

However, he didn't shed any light on the sticking points to achieving the final 10 percent and refused to speculate on whether a deal wo...