|Day's range||12,050.49 - 12,124.55|
|52-week range||10,279.20 - 13,170.05|
President Donald Trump predicts a swift end to the ongoing trade tensions. Prime Minister Theresa May announces she will resign as party leader on June 7. European stocks traded higher on Friday, with investors returning to risk assets as fears over the United States - China trade battle receded.
The pan-European Stoxx 600 was down by more than 1% in mid-morning deals with almost every sector in the red. Auto stocks led the losses, down by nearly 3%. This comes after renewed concerns over the trade relationship between the U.S. and China.
U.S. President Donald Trump's bid to blacklist Huawei has further intensified trade tensions, while the Chinese ruling Communist Party's newspaper has insisted the trade war will only make China stronger. The morning's biggest loser was British tour operator Thomas Cook, which saw its shares plummet 30% by mid-morning, hitting their lowest since July 2012 and on track for the biggest one-day drop since November 2011. European stocks traded lower Friday as trade fears ratcheted up, amid the U.S. administration's bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party's newspaper striking a defiant tone.
LONDON (AP) — Stocks recovered their poise Thursday after dropping over President Donald Trump's decision to limit U.S. exports to foreign telecoms companies, an order that appeared aimed squarely at China.
A gauge of world equity markets rebounded and the dollar pared losses on Friday after President Donald Trump said U.S.-China trade talks were constructive, easing tensions that pushed stocks on Wall Street toward their biggest weekly loss since December. The major U.S. stock indexes swooned more than 1% before rebounding from session lows, first on encouraging comments from Treasury Secretary Steven Mnuchin and then Trump's remarks that his relationship with President Xi remained strong. Trump earlier said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators ended two days of talks aimed at salvaging an agreement aimed at ending a 10-month trade war.
After four days of declines and with meetings scheduled to resume on Friday, U.S. investors weren’t particularly shaken up by the deadline passing
Washington increased tariffs on Chinese goods from 10% to 25% overnight. China immediately said it would retaliate, though did not specify how. The pan-European STOXX 600 climbed 0.9% in early deals, with the French CAC 40 and German DAX indexes both rising by 1%.
The pan-European STOXX 600 was down 0.8% during early afternoon deals, with all sectors and major bourses in negative territory. Sentiment continued to be curbed by trade tensions between Washington and Beijing. President Donald Trump claimed overnight that China "broke the deal" in negotiations.
European stocks were lower Wednesday amid escalating fears of a breakdown in trade talks between the U.S. and China. Despite the news that Chinese Vice Premier Liu He would travel to Washington on Thursday, fears have been growing that the proposed trade deal between the two economic powers is unraveling. European stocks traded lower on Wednesday as the escalating threat of a trade war between the U.S. and China continued to weigh on major markets.
European stocks traded slightly lower during morning trade Tuesday, after it was confirmed Chinese Vice Premier Liu He would attend trade talks in Washington.
Market sentiment is mostly affected by overnight news that the U.S. will impose further duties on China. Chinese markets plunged more than 6% on the news. The European Commission is reportedly set to launch a formal investigation into Apple.