European stocks jumps near 4-year peak after Xi Jinping's speech

2019-11-05 12:17:34 GMT (Economies.com)
European stocks jumps near 4-year peak after Xi Jinping's speech

The major European stocks indices rose on Tuesday, to extend gains for the third straight session, near the 4-year high hit yesterday, amid positive market sentiment as hopes about the US-China trade talks were renewed after positive developments in the trade file, after Chinese leader Xi Jinping urged solving the global tensions and the removal of the trade barriers in his speech today.

 

Stoxx Europe 600 rose by 0.1% as of 11:14 GMT, as it closed higher by 1.0% yesterday, in its the second straight daily gain and hit the highest level since July 2015.

 

The index opened today's session higher, to extend its gains for the third straight session, near a 4-year high, with most of the major European exchanges and sectors rising.

 

The mining sector saw the largest gains in Europe, with a rise by 02.5%, buoyed by news about the global trade developments.

 

Chinese President Xi Jinping, stressed the need for resolving global tensions through talks and urged the removal of global trade barriers, in his speech during the China International Import Fair today.

 

These recent developments indicate that the US and China are very close to signing the first phase trade deal, with reports suggesting that it will be officially signed in the middle of this month.

 

While a Reuters report showed that Beijing is pushing for Washington to remove more tariffs as part of the "Phase I" trade deal between the two countries.

 

S&P 500 futures rose by 0.2%, after it closed higher by nearly 0.4% at Wall Street on Friday, and posted its at its all-time high of 3,085.20 points.

 

To the European stock markets, the Euro Stoxx 50 index rose by 0.1%, the German DAX rose by 0.1%, with France's CAC 40 rising by 0.1%, and in London, the FTSE 100 rose by 0.3%

 
 
 
  Symbol Last Change Chg.%
1.1084
0.0022
0.2011%
1.3146
0.0009
0.0716%
Tadawul
8134.60
68.18
0.85%
16.677
0.105
0.634%
58.945
-0.165
0.279%
64.00
-0.34
0.53%
1466.505
6.660
0.456%
 
 
US
 
Europe
 
Asia