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Trump make concessions to China, shares respond positively

February 14, 2019 at 09:51AM

European stocks climbed at the open and U.S. equity futures advanced after the White House was said to weigh postponing higher tariffs on China for 60 days. Treasuries were steady alongside the dollar, while oil advanced.

Gains in industrial-goods and food shares pushed the Stoxx Europe 600 Index higher amid a slew of company news. Credit Suisse reported that trading losses eclipsed wealth-management gains, AstraZeneca forecast expanded earnings for the year, while Airbus scrapped the A380 superjumbo model. In Asia, equity benchmarks drifted in Japan, China and Australia, and ticked lower in Hong Kong. Ten-year Treasury yields held close to 2.70 percent. European sovereign bonds were steady and the euro was flat after data showed Germany’s economy avoided recession, but stagnated in the fourth quarter.

President Donald Trump is considering pushing back the deadline for imposition of higher tariffs on Chinese imports by 60 days, as the world’s two-biggest economies try to negotiate a solution to their trade dispute, according to people familiar with the matter. Earlier, Trump told reporters that trade talks are making good progress, helping to steady investor sentiment.

Elsewhere, oil continued its rebound as falling shipments from Saudi Arabia and Venezuela outweighed gains in U.S. crude stockpiles. The pound turned lower ahead of Parliament’s latest set of votes on Theresa May’s Brexit strategy. The Stoxx Europe 600 Index rose 0.4 percent as of 8:11 a.m. London time. Futures on the S&P 500 Index rose 0.3 percent. The MSCI World Index of developed countries climbed less than 0.05 percent to the highest in more than 10 weeks. The MSCI Asia Pacific Index fell 0.1 percent.

Europe Stocks Climb With U.S. Futures; Bonds Drift, Bloomberg, Feb 14

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From: FinPress Review https://fxpro.news/daily-forex-outlook/trump-make-concessions-to-china-shares-respond-positively-20190214/
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