FX Graph

European shares set to finish at all-time record high

European shares set to finish at all time record high

European shares inched higher in thin trading on Tuesday, with the benchmark Euro STOXX 600 hovering near an all-time high amid optimism about the US-China trade agreement.

Overall, flat performance dominated most sectors on European exchanges at the start of today's session, but oil and gas shares rose 0.2 percent.

Markets are largely focused on developments on the U.S.-China trade front, where optimism dominated investors after China announced it would cut tariffs on U.S. products from its side early next year.

As the U.S President Donald Trump also said that, the process of signing the trade deal is approaching.



As of 13:25 GMT, the Euro STOXX 600 rose 0.13 percent to 418.80. France CAC 40 was 0.003 percent up at 6,029.55.

 

Germany's DAX was not traded today as the Frankfurt Stock Exchange closed its doors to investors today to start the Christmas holiday season, noting that the index closed yesterday's session down more than 0.1 percent at 13,300.98 points.

 

In Britain, FTSE 100 ascended 0.11 percent to 7,632.24 as the following chart shows down below.

 

On the trade front, investors are awaiting further developments on the phase one agreement between the world's two largest economies.

As China’s Treasury Department said Monday that Beijing will cut import tariffs on more than 850 products, while U.S. Treasury Secretary Steven Mnuchin said last week that the first phase of the trade deal would be signed in early January.

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