Stocks

European shares inch lower ahead of US-China trade deal

Reuters January 14 | Updated on January 14, 2020 Published on January 14, 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 treaded water on Tuesday, as investors awaited the signing of an initial trade truce to end a prolonged US-China tariff dispute, with attention also turning to the fourth-quarter corporate earnings season.

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

The Phase 1 Sino-US trade deal, due to be signed in Washington on Wednesday, marks the first step in winding down the prolonged and damaging trade war.

In further signs of goodwill, the US Treasury Department on Monday dropped China's designation as a currency manipulator, while another report said China had pledged to increase buying of US manufactured goods over the next two years.

European chemicals stocks were the worst performing sector on Tuesday, shedding about 0.8 per cent.

Published on January 14, 2020
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