European Stock Markets Higher After China and US Trade Talks
European stock markets advanced slightly on Friday. The rapprochement between China and the United States to achieve the first phase of the trade deal between the two countries created optimism on the trading floors.
The official government report from the US government was also awaited, which will be released later today. ING was popular on the Damrak thanks to a better-than-expected quarterly report from the bank.
Around noon, the AEX index at Beursplein 5 was 0.6 percent higher at 519.12 points. The MidKap climbed 1 percent to 712.59 points. Paris and Frankfurt rose to 0.7 percent. Investors had a day off in London.
Chinese Deputy Prime Minister Liu He, Trade Envoy Robert Lighthizer and US Treasury Secretary Steven Mnuchin agreed on Friday to create favourable conditions to realize the first part of the trade deal.
As a result, the recent tensions between the two superpowers decreased somewhat. US President Donald Trump blamed China for the coronavirus outbreak a week ago and threatened new trade tariffs against the country.