European stocks traded higher on Tuesday (August 12th), with the STOXX 50 and STOXX 600 rising nearly 0.3%, recovering from a sluggish session the previous day, as traders welcomed the extension of the US-China trade truce.
President Trump extended the suspension of high tariffs on Chinese goods for another 90 days, until November 10th, while China announced a similar extension for its own tariff suspension. Investors also digested key European economic data, with no major earnings reports scheduled.
In the UK, recent data confirmed that the labor market continues to slow, although wage growth remains strong. In the corporate sector, Schneider Electric, Rio Tinto, and Merck each rose around 1.3–1.4%, while BNP Paribas rose 0.6% to €82—an 18-year high. In contrast, SAP shares fell nearly 1%. (alg)
Source: Trading Economics
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