Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ World https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ European stocks are higher than renewed trade optimism

European stocks are higher than renewed trade optimism



European stocks traded higher on Monday as renewed optimism about US-China trade talks seemed poised to return the risky approach from investors.

The Pan-European Stoxx 600 rose 0.5% at the start of trade-sensitive auto-jump by 2.4% to make profits while the food and beverage sector slid 0.5%.

Hope for progress in ongoing trade talks between the world's two largest economies was intensified on Sunday when US Secretary of Commerce Wilber Ross said licenses would be granted "very soon" for US companies to sell to Chinese telecommunications giant Huawei.

Huawei was among the list of Chinese companies on the Ministry of Commerce's black list for alleged national security threats. Ross also offered more details about a potential partial deal, which is expected to be signed by President Donald Trump and Chinese President Xi Jingping.

Ross also told Bloomberg TV on Sunday that Washington may not have to impose planned 5-1

5% tariffs on European and Asian cars after positive discussions that sent the auto sector to jump on Monday.

Shares in the Asia-Pacific region advanced Monday afternoon in response to Hong Kong-based Hang Seng index news, which rose 1.28%.

Back Production data for Europe, October for Spain, Italy, France, Germany and the euro area as a whole is due for release on Monday morning.

Earnings in focus

Profits continue to serve as a focal point for the individual presentation of shares. On Monday, Ryanair reported after-tax profits of 1.15 billion euros ($ 1.3 billion) in the six months from April to September, slightly better than expected. In addition, it reduced its full-year profit forecast from EUR 750-950 million to EUR 800-900 million. Ryanair shares added 5.9% at the start of the trading session.

The shares of Siemens Healthineers rose 4.9%, having previously hit the highest level since the German medical technology group reported strong fourth quarter earnings.

At the other end of the European Blue Chips Index, Vopak's shares were down 3% after the Dutch storage company said it would focus on chemicals after slowing down its oil terminal business.


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