Saturday, 04 July 2020
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European stocks clsoe higher on China-US trade optimism
Friday, 8 November 2019 00:10 WIB | MARKET UPDATE |Stoxx Europe 600Saham Eropa

European shares traded higher Thursday, having touched a four-year high early in the session after China said the world™s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.

The pan-European Stoxx 600 closed up 0.37% to 406.56, slightly paring earlier gains which saw the European blue-chip index hit its highest point since July 2015. Auto stocks jumped 1.7% to lead gains while utilities slid 1.9%.

China™s Commerce Ministry said Thursday that Washington and Beijing had over the past two weeks agreed to a phased removal of duties on billions of dollars™ worth of each other™s goods.

Commerce ministry spokesman Gao Feng said that the cancellation would be important for the two sides to reach a œphase one trade deal, Reuters reported.

Source: CNBC

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