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Trade optimism lifts European shares towards second day of gains

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By Reuters
Trade optimism lifts European shares towards second day of gains
FILE PHOTO: General view of the Frankfurt stock exchange, Germany, June 29, 2015. REUTERS/Ralph Orlowski   -   Copyright  Ralph Orlowski(Reuters)

LONDON (Reuters) – European shares opened higher on Wednesday and were set for a second day of gains as sentiment towards the Sino-US trade dispute lifted after U.S. President Donald Trump sounded upbeat about a deal in a Reuters interview.

The Euro zone STOXXE <.STOXXE> index was up 0.7 percent at 0829 GMT with most bourses across the continent in the black.

Despite the general upbeat mood, trading updates from retailers saw the overall sector fall 1 percent.

Shares of Zara owner Inditex <ITX.MC> fell 6 percent as sales and profit growth came below market expectations.

A profit warning for British fashion retailer Superdry <SDRY.L> saw its shares lose close to 30 percent of their market value.

Also in Britain, Dixons Carphone <DC.L>, the electricals and mobile phone retailer, lost close to 10 percent after reporting a statutory first-half pretax loss of 440 million pounds after booking 490 million pounds of exceptional charges, mainly related to goodwill.

(Reporting by Julien Ponthus; Editing by Andrew Heavens)