European stocks opened higher on Monday following a volatile week for global markets as investors monitor escalations in the U.S.-China trade war.
The pan-European Stoxx 600 jumped 0.7% to 371.56 at the opening bell, technology and auto stocks gaining 1% as all sectors and major bourses traded in positive territory.
The People's Bank of China set the official midpoint reference for its yuan currency at 7.0211 per dollar on Monday, exceeding the psychological barrier of 7 per dollar for the third consecutive session.
Trade talks are set to resume in Washington in early September after a new 10% tariff on an additional $300 billion worth of Chinese goods comes into effect on September 1. President Donald Trump told reporters on Friday that the U.S. is not ready to strike a trade deal with China just yet.
Source : CNBC