European stocks closed mixed on Friday as ties between the U.S. and China came under further strain, potentially threatening the “Phase One” trade deal signed earlier this year.
The pan-European Stoxx 600 provisionally closed a touch above the flatline Friday, with food and beverages falling 0.6% to lead losses while travel and leisure stocks jumped 0.8%.
Tensions between the world’s two largest economies have flared on multiple fronts in recent days. China is poised to impose a new national security law in Hong Kong following months of anti-government protests, raising further questions about Beijing’s control over the city and likely evoking the ire of the U.S. and other Western powers which supported pro-democracy protesters.
Source : CNBC