European stocks rise on positive US-China trade news

Economies.com
2019-12-05 12:17PM UTC

European stocks rose on morning sessions on Thursday, to continue gains for the second straight session, amid improved market sentiment after upbeat news about that the US and China are close to signing the phase one of the trade deal.

 

Stoxx Europe 600 rose by 0.5% as of 11:40 GMT, while it closed higher by 1.2% yesterday, its first daily gains in 5 days, after hopes were renewed about a trade deal between the US and China. 

 

The index opened today's session higher, to continue gains for the second straight session, as most of the major European exchanges and sectors rose today.

 

The household and consumer goods sector saw the largest gains in Europe today, after news that Kering held talks to buy the Italian luxury jackets maker Moncler, as Moncler shares surged more than 9%.

 

Bloomberg said, citing sources close to the trade talks, that the US and China are close to signing the phase one of the trade deal.

 

The US President Donald Trump said the talks aimed at reaching a trade deal to end the trade war are going “very well”.

 

S&P 500 futures rose by 0.4% today, while it closed higher by 0.6% yesterday at Wall Street, its first daily gain on four days, after upbeat developments in the trade talks.

 

Back to Europe, the Euro Stoxx 50 index rose by 0.6%, the German DAX added 0.3%, and France's CAC 40 rose by 0.8%, and in London, the FTSE 100 gained 0.1%

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