European Markets Surge On US-China Trade Dispute

European Markets Surge On US-China Trade Dispute

European markets surge amid US-China trade dispute. On Wednesday, European shares were up during early morning deals. The world’s two largest economies are expected to obtain a trade deal with an aim to end an extended debate. The pan-European Stoxx 600 with most sectors in positive regions, jumped around 0.4 percent Wednesday morning.

Autos and basic resources stocks of Europe, both grew more than 1.2 percent, during early morning deals and largely contributed to the gains. The results come during the time when officials from the U.S. and China announced a new round of negotiations. Now, further talks with a follow-up session expected to happen in the week.

President Donald Trump last week said that he is planning to stop the increase of 10 percent tariffs on $200 billion worth of Chinese imports by extending deal’s March 1 deadline.

At another side, Ireland’s Glanbia also uplifted shortly after the opening bell. Last year, the company posted a growth of 16 percent in pre-tax profit and for 2019, it projected growth between 5 percent and 8 percent.

While the shares of the U.K.’s Sainsbury dropped. The numbers come following the competition regulator of U.K. announced that it would block Asda’s takeover of $9.5 billion by the supermarket. Sainsbury’s stock then fails more than 12 percent.

Asia’s Asia-Pacific shares’ MSCI’s broadest index reached its top level, up almost 1 percent. U.K. Prime Minister Theresa May, who aimed at renegotiating Brexit deal with the bloc, met European Commission President Jean-Claude Juncker.

 

 

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