European shares edge higher after US-China trade deal

Reuters January 16 | Updated on January 16, 2020 Published on January 16, 2020

The pan-European STOXX 600 index fell 0.2 per cent by 0812 GMT in its third straight day of declines. File Photo   -  Reuters

European shares gained ground on Thursday after the US and China signed an eagerly awaited Phase 1 trade deal, but some questions still remained over certain key issues. The pan-European STOXX 600 index was up 0.1 per cent by 0806 GMT.

Global markets paused around record highs following the signing of the agreement on Wednesday, as the deal highlighted daunting purchase commitments of US goods by China, while leaving existing tariffs in place.

However, the prospect of no further escalation in the economically damaging trade war encouraged a slight risk-on mode.

The European retail sub-index was the best performer, led by a 11.1 per cent rise in German meal-kit delivery company HelloFresh after it flagged a stronger 2019.

Published on January 16, 2020
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