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European shares lifted by U.S.-China trade optimism; LVMH gains

Published 11/25/2019, 04:15 PM
Updated 11/25/2019, 04:16 PM
European shares lifted by U.S.-China trade optimism; LVMH gains
LVMH
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STOXX
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Nov 25 (Reuters) - European shares rose for the second
straight session on Monday following reports that Washington and
Beijing were nearing a trade agreement, while LVMH gained after
signing a deal to buy U.S. jewellery chain Tiffany.
A Chinese state-backed tabloid said on Monday China and the
United States were "very close" to an initial trade agreement,
adding to optimism from Friday, when the presidents of both the
countries reiterated their desire for a deal. The pan-European STOXX 600 index .STOXX was up 0.6% at
0802 GMT, led by trade-sensitive miners .SXPP .
French luxury goods group LVMH LVMH.PA rose 1.7% after
saying it had reached a definitive agreement to buy Tiffany & Co
TIF.N in a $16.2 billion deal. Focus now turns to the German IFO business sentiment survey
due later in the day. Economists expect a reading of 95 for
November, slightly higher than the 94.6 recorded in October,
according to a Reuters poll.

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