European stocks edge higher as focus turns to trade developments

2019-12-11 13:57:03 GMT (Economies.com)
European stocks edge higher as focus turns to trade developments

European stocks rose in morning sessions on Wednesday for the first time in the last 3 sessions, in a limited range of trading amid anticipation for more US-China trade talk news, after the Wall Street Journal reported that the US is close to delaying the next tariffs hike next Sunday, in addition to the latest opinion polls on the British snap election scheduled for Thursday.

 

Stoxx Europe 600 rose by 0.1% as of 11:41 GMT, as it closed lower by 0.3% yesterday, and posted its second straight daily loss. 

 

The index opened today's session higher, to head for its first daily gain in 3 days, as most of the major European exchanges and sectors rose today.

 

The mining sector saw the largest gains in Europe today, with a rise by 0.9%, after most industrial metal prices led by copper. 

 

The markets are cautiously awaiting outcome of the US-China trade talks ahead of the date for the US planned tariffs hike on Chinese goods worth $160 billion due December 15.

 

The Wall Street Journal reported on Tuesday that the US and China are close to delaying the next tariffs hike, in efforts to reach a trade deal. 

 

S&P 500 futures rose by 0.1% today, while it closed lower by 0.1% yesterday at Wall Street, its second straight daily loss in 4 days.

 

The US Federal Reserve will unveil its interest rate decision later today, amid forecasts for holding the rates unchanged.

 

Back to Europe, the Euro Stoxx 50 index rose by 0.1%, the German DAX rose 0.3%, while France's CAC 40 fell by 0.1%. 

 

In London, the FTSE 100 index fell by 0.1%, as investors focus on the recent opinion polls before the snap elections scheduled for tomorrow, which showed that the Conservative Party led by PM Boris Johnson is now less favourable to bag a majority in Parliament.

 
 
 
  Symbol Last Change Chg.%
1.1090
-0.0030
0.2734%
1.3009
-0.0027
0.2087%
Tadawul
8459.80
27.24
0.32%
18.021
-0.083
0.456%
58.778
-0.410
0.694%
65.02
0.40
0.62%
1556.915
-5.780
0.370%
 
 
US
 
Europe
 
Asia