Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

European shares rise on signs of thaw in U.S.-China trade war

European shares rise on signs of thaw in U.S.-China trade war
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 6, 2019. REUTERS/Staff -
Copyright
STAFF(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – European shares opened higher on Wednesday, bolstered by China’s move to exempt some U.S. goods from additional tariffs, the latest sign that a prolonged trade war between the two sides is cooling. Trade-sensitive German shares <.GDAXI> led gains, with traders continuing to rotate into battered stocks such as autos and banks from defensive sectors. The pan-European STOXX 600 index <.STOXX> was up 0.3% at 0708 GMT.

China’s finance ministry said on Wednesday 16 types of U.S. goods would be exempted by additional retaliatory tariffs from Sept. 17, further buoying investor sentiment. All eyes are now on the European Central Bank’s monetary policy meeting on Thursday, where it is widely expected to cut interest rates and restart an asset purchase programme. However, analysts have warned that market expectations on the extent of the stimulus could be too high.

Debt-laden French retailer Casino <CASP.PA> was the top gainer on STOXX 600, up 4.4%, on a report that rival Carrefour <CARR.PA> is weighing a possible bid potentially through an all-share deal.

(Reporting by Susan Mathew in Bengaluru; Editing by Arun Koyyur)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.