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European Shares Inch Higher As Trade Worries Ease


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(RTTNews.com) - European stocks rose slightly on Friday as media reports suggesting the possibility of another round of talks between the United States and China helped ease market worries over the escalating tariff war that threatens to derail global economic growth.

Concerns about emerging markets also eased somewhat after Turkey's central bank raised its key interest rate sharply in a dramatic bid to control rocketing inflation and prevent a currency crisis.

The pan-European Stoxx Europe 600 index was up 0.2 percent at 377.19 in late opening deals after declining 0.2 percent on Thursday.

The German DAX and France's CAC 40 index were up around 0.3 percent, while the U.K.'sFTSE 100 was up 0.1 percent.

Technology stocks surged after Apple led a rebound in technology shares on Wall Street overnight. Infineon and STMicroelectronics both rose around 2 percent

Automakers were also broadly higher as trade war concerns eased. Daimler gained 1 percent, Volkswagen jumped 1.6 percent and Renault advanced 2.5 percent.

British asset manager Investec soared 10 percent after announcing a demerger.

Close Brothers Group rallied 2 percent. The merchant banking group has unveiled plans to sell Close Brothers Retail Finance to Swedish payment solutions group Klarna Bank AB for an undisclosed amount.

SThree, a specialist STEM staffing business, jumped over 4 percent after its third-quarter group gross profit increased 13 percent from last year.

Irish low-cost airline Ryanair advanced 1.4 percent after it reached agreement with Italian unions on outline terms of a Collective Labour Agreement.

Housebuilder Taylor Wimpey shed 0.8 percent and rival Barratt Developments declined 0.7 percent after Bank of England Governor Mark Carney warned of sharp house price falls in the event of a chaotic no-deal Brexit.

In economic releases, the euro area trade surplus declined to the lowest level in four years in July, figures from Eurostat showed.

The trade surplus fell to a seasonally adjusted EUR 12.76 billion from EUR 16.47 billion in June. This was the lowest since June 2014, when the surplus totaled EUR 12.22 billion.


Read the original article on RTTNews (http://www.rttnews.com/2934940/european-shares-inch-higher-as-trade-worries-ease.aspx)


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This article appears in: World Markets , Banking and Loans , US Markets , Stocks
Referenced Symbols: BTDPY ,



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