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European shares rise on signs of thaw in U.S.-China trade war

Published 09/11/2019, 03:15 PM
Updated 09/11/2019, 03:20 PM
European shares rise on signs of thaw in U.S.-China trade war

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 11 (Reuters) - European shares opened higher on
Wednesday, bolstered by China's move to exempt some U.S. goods
from additional tariffs, the latest sign that a prolonged trade
war between the two sides is cooling.
Trade-sensitive German shares .GDAXI led gains, with
traders continuing to rotate into battered stocks such as autos
and banks from defensive sectors. The pan-European STOXX 600
index .STOXX was up 0.3% at 0708 GMT.
China's finance ministry said on Wednesday 16 types of U.S.
goods would be exempted by additional retaliatory tariffs from
Sept. 17, further buoying investor sentiment. All eyes are now on the European Central Bank's monetary
policy meeting on Thursday, where it is widely expected to cut
interest rates and restart an asset purchase programme. However,
analysts have warned that market expectations on the extent of
the stimulus could be too high.
Debt-laden French retailer Casino CASP.PA was the top
gainer on STOXX 600, up 4.4%, on a report that rival Carrefour
CARR.PA is weighing a possible bid potentially through an
all-share deal.

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