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European Stocks Close Higher as US-China Trade Talks End


Friday, 24 August 2018 23:15 WIB

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European stocks closed higher Friday following the conclusion of U.S.-China trade talks and a key speech by Federal Reserve Chair Jerome Powell.

The pan-European Euro Stoxx 600 index traded 0.1 percent higher at 383.56, with most sectors in the black. Basic resources — with their heavy exposure to China — were the best performers. This comes despite trade talks between the U.S. and China ending without any progress Thursday, the same day that new tariffs on each other's economies came into force.

Looking at individual stocks, shares of Irish building materials firm Kingspan rose almost 10 percent, to the top of the European benchmark, after the building materials firm reported a rise in trading profits for its first half and gave a positive outlook for the rest of the year.

Source : CNBC


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