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European shares Mixed despite the signing of trade deal

European shares Mixed despite the signing of trade deal

European shares were mixed during Thursday’s trading after the signing of the first phase of the trade deal, as investors remained skeptical about the implementation and the chances of signing phase two.

As of 11:16 GMT, the Euro STOXX 600 was 0.02 percent at 419.64, hovering near its all-time high of 421.43 recorded on January 9.

Germany’s DAX 30 slipped 0.048 percent to 13,427.28, while France’s CAC gained 0.085 percent to 6,037.73. In Britain, the FTSE 100 dropped 0.42 percent to 7,611.10.

In Asia, Japan’s Nikkei 225 index surged 0.07 percent to 23,933.13 points.

Australia S&P/ASX 200 finished 0.67 percent up at 7,041.78 and South Korea’s Kospi index ascended by 0.77 percent to 2,248.05.

Hang Seng Index increased by 0.15 percent to close at 28,816.64, while the Shanghai Composite Index slipped 0.42 percent to 4,149.04.

The rise in Asian shares came after the United States have signed the first phase of the trade deal with China yesterday at the White House, which is considered a long-awaited move.

The United States president Donald Trump explained the importance of signing the trade deal, as he said "this is a very important occasion, today we have taken an important step that has not been taken before with China and toward fair and reciprocal trade future with the signing of the first phase of the historic trade agreement between the United States and Beijing."

The US President also confirmed that China will buy more agricultural products and energy from the United States.

The partial deal centers on China's pledge to buy additional $200 billion worth of U.S. agricultural products and other goods and services over two years or more.

Nevertheless, some investors remained skeptical as the deal neither eliminated the tariffs nor addressed critical issues that resulted in the trade showdown.

Also, the release of inflation data from major economies indicating the presence of low inflation added to concerns regarding global slowdown.

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