European stocks surge after US-China trade truce

Monday, 1 July 2019 14:24 WIB

Stoxx 600Indeks Stoxx Europe 600SahamEropa

European markets surged at Monday's open after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on additional tariffs in a bid to reignite trade talks.

The pan-European Stoxx 600 jumped more than 1.2% in the opening minutes of trade, technology stocks leading gains with a 2.5% rise as all sectors traded firmly in positive territory.

Following a meeting on the sidelines of the Group of Twenty (G-20) summit over the weekend, President Trump and President Xi confirmed that they do not intend to levy any new tariffs against each other's products at present, while Trump suggested a reversal of his administration’s decision to ban American companies from selling products to Chinese telecommunications giant Huawei.

Source : CNBC


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