Fundamental Comment

European shares rally on easing global trade war concerns


European shares tailed gains in Asia amid improvement in sentiment on mounting hopes a trade war between the U.S. and China could be avoided.

STOXX Europe 600 index added 1.20 percent to 367.53 points, set for the best day in seven weeks, and Euro STOXX 50 soared 1.33 percent to 3,322.30.

Germany’s DAX 30 climbed 1.54 percent to 11,973.81, French CAC 40 edged up 1.31 percent o 5,132.70.

U.K. FTSE 100 rose 1.67 percent to 7,003.71.

China's premier Li Keqiang said on Monday that China and the US should maintain negotiations after US Treasury secretary Steven Mnuchin said he was "cautiously hopeful" that the US and China could come to an agreement on trade issues.

Last week, global equities were hit hard by fears of a global trade war after President Donald Trump’s decision to impose tariffs on $60 billion in Chinese goods, noting that the U.S. duties on steel and aluminum imports came into effect last week.

The U.S. dollar index rebounded from a six-week low of 88.51 to trade at 88.85.

Share Article