European stocks rebound as US-China tensions ease

2020-06-01 11:50:00 GMT (Economies.com)
European stocks rebound as US-China tensions ease

European stocks rose on Monday, to resume gains after pausing on Friday, on strong investors sentiment, as fears eased about the tensions between the US and China over Hong Kong. 

 

The Stoxx Europe 600 index rose 0.7% as of 10:25 GMT, after it closed lower by 1.4% on Friday on profit-taking from 11-week high.

 

The index gained 3% during the past week, posting its second weekly gain in a row, after the European Commission launched the economic stimulus fund.

 

The pan European index opened higher today, near an 11-week high, with most European markets and sectors seeing green today.

 

President Donald Trump announced sanctions on some Chinese officials during his last press conference about the Hong Kong crisis on Friday, and directed his administration to end the special trade relationship with Hong Kong that were granted to the city after it became independent from British rule in 1997.

 

Trump did not mention the US trade relations with China or threatened to impose new tariffs, which eased market's fears of renewed tensions between the world's two largest economies.

 

S&P 500 futures fell 0.9%, due to protests in the US after the killing of George Floyd, after the index closed higher by 0.5% on Friday at Wall Street, after Trump's press conference about China.

 

Back to Europe, the Euro Stoxx 50 index added 0.7%, France's CAC 40 jumped 1.2%, while the UK's FTSE 100 rose 1.1%, and the German market is closed today in observance of a public holiday.  

 
 
 
  Symbol Last Change Chg.%
1.1246
-0.0031
0.2718%
1.2486
0.0178
1.4462%
Tadawul
7312.24
58.91
0.81%
18.047
0.268
1.507%
40.285
1.510
3.894%
42.80
-0.34
0.79%
1774.730
3.115
0.176%
 
 
US
 
Europe
 
Asia