European stocks rose for the third straight day on Friday on optimism around U.S...
- European stocks rose for the third straight day on Friday on optimism around U.S.-China trade talks and London’s latest Brexit moves, while German software giant SAP headed for its best day since April after its long-term CEO stepped down.
The pan-European STOXX 600 climbed 0.8% and was headed for its best week in more than a month after the opening rounds of Sino-U.S. trade negotiations ended with rising hopes for at least a partial trade deal. “Investors are ready to celebrate any form of a U.S.-China trade deal, even an interim one, having endured trade-related volatility since May,” said Han Tan, market analyst at FXTM.“Even if there were a partial deal, that would not change the overall situation because the U.S. would not address what their issues with China really are in terms of intellectual property and unfair competition,” said Simona Gambarini, markets economist at Capital Economics.
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