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European shares notch four-year high on fresh U.S.-China trade deal hopes

European shares notch four-year high on fresh U.S.-China trade deal hopes
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 25, 2019. REUTERS/Staff -
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(Reuters) – European shares hit a four-year high on Wednesday as comments from U.S. President Donald Trump sparked hopes of an imminent resolution to the prolonged trade war with China.

Trump said on Tuesday that the United States was in the “final throes” of work on a deal that would defuse the 16-month trade war, while also underscoring Washington’s support for protesters in Hong Kong, a potential sticking point with China.

The pan-European STOXX 600 index <.STOXX> was up 0.3% at 0805 GMT, led by trade-sensitive miners <.SXPP>.

Finnish ship technology and power-plant maker Wartsila <WRT1V.HE> jumped 3% to the top of the benchmark index as JP Morgan raised its price target on the company.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta)

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