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European stocks hit one-month highs on trade optimism

Published 09/05/2019, 03:19 PM
Updated 09/05/2019, 03:20 PM
European stocks hit one-month highs on trade optimism
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 5 (Reuters) - European shares extended their rally on
Thursday, after China said it would hold trade talks with the
United States, raising hopes that the two sides will make
progress on a dispute that has put major economies at a risk of
recession.
China's Commerce Ministry said its trade team will consult
with their U.S. counterparts in mid-September in preparation for
negotiations in early October, and both sides agreed to take
actions to create favourable conditions. The pan-European STOXX 600 index .STOXX rose 0.63% by
0710 GMT to touch its highest level since Aug. 1, after rallying
0.9% in the previous session.
France's CAC 40 index .FCHI jumped 0.79% to hit a more
than one-month high, outperforming major European bourses,
helped by a 6% rise in shares of engine maker Safran SAF.PA
after the company raised its full-year profit forecasts.
Weighing on sentiment was data that showed German industrial
orders fell more than expected in July on weak demand from
abroad, suggesting manufacturers in Europe's biggest economy
continue to struggle in the third quarter.

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