- Nineteen prisoners use cutlery to break out of cells at Winchester prison
- France wants progress in Ukraine before Russia returns to G7
- Italy president begins talks to seek way out of government crisis
- Italian PM expected to resign as political chaos deepens
- Russia says US cruise missile test ‘regrettable’
- Kremlin - No date set for Normandy talks on Ukraine despite Macron meeting
- Egypt court hands out 6 death sentences on terror charges
- Putin says Russian nuclear explosion poses no threat
- Russian panel eyes alleged foreign interference in protests
- Gran Canaria wildfire triggers evacuation of thousands of people
- PM Johnson calls on Germany and France to compromise on Brexit
- Sudan's ex-president Bashir arrives at corruption trial
TEHRAN, December 03 -Miners, autos, tech, and oil stocks all surged on Monday, driving Europe’s main benchmarks up strongly after U.S. and Chinese leaders agreed a temporary truce in an ongoing trade war which has roiled global financial markets.
TEHRAN, Young Journalists Club (YJC) -Miners, autos, tech, and oil stocks all surged on Monday, driving Europe’s main benchmarks up strongly after U.S. and Chinese leaders agreed a temporary truce in an ongoing trade war which has roiled global financial markets.
Germany’s DAX .GDAXI – the most sensitive to China and trade war fears – led the way with a 2.5 percent rise, hitting its highest level since Nov 14. The pan-European STOXX 600 climbed 1.9 percent, on track for its strongest day in eight months.
U.S. President Donald Trump and Chinese President Xi Jinping brokered a trade war truce at Saturday’s G20 dinner, agreeing to halt additional tariffs with fresh talks aimed at reaching an agreement within 90 days.
Financials were the biggest boost to European shares as China-exposed bank HSBC (HSBA.L) rose and lenders across the region cheered the prospect of a détente in a trade war, which has dented world economic growth prospects.
Mining stocks .SXPP led gains with a 5 percent rise as metals prices surged on the news which gives China, the world’s biggest metals consumer, more wiggle room in the next few months.
Antofagasta (ANTO.L), Anglo American (AAL.L), and Glencore (GLEN.L) were among the top European gainers, up 6.1 to 6.9 percent.
Car stocks .SXAP, which have been battered by fears of rising tariffs, jumped 4.2 percent after Trump said that China had agreed to cut import tariffs on American-made cars.
Source: Reuters
Your Comment