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European shares flat ahead of U.S.-China trade pact

Published 01/15/2020, 04:19 PM
Updated 01/15/2020, 04:24 PM
European shares flat ahead of U.S.-China trade pact
SOBIV
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STOXX
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SXDP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Jan 15 (Reuters) - European shares were flat on Wednesday
ahead of the signing of an initial Sino-U.S. trade deal, as
comments from the U.S. Treasury Secretary that tariffs on China
would remain in place for now somewhat dimmed optimism.
The pan-European STOXX 600 index .STOXX rose 0.04% by 0805
GMT.
Treasury Secretary Steven Mnuchin said tariffs on Chinese
goods would remain until a second phase of a U.S.-China trade
deal. His comments came hours before the signing of an agreement
that seeks to ease prolonged trade tensions between the world's
two largest economies. The Phase 1 deal will lead to China buying more U.S.
products, but does not tackle issues such as subsidies.
Healthcare .SXDP was the best performing sector in the
euro zone, led by a 2.8% rise in pharmaceuticals developer
Swedish Orphan Biovitrum AB SOBIV.ST .

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