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Global markets are optimistic about the outcome of US-China trade talks, which began today in Washington, as renewed confidence boosted energy prices as well. .
Brent is near its highest levels this year and is just below $ 70 a barrel, while the tight supply continues to drive up prices. Traders are also convinced that mitigating the concerns of the trade war will improve China's energy demand, while helping prices.
This positivity has been reinforced by strong data from China and by the belief that a resolution of the long trade war between the United States and China could be in sight. Asian equities reached their highest level in seven months, following comments by Larry Kudlow, the White House's economic advisor, that the US hoped to "move further" in trade talks, Reuters reported.
Outside Japan, the broadest index of the MSCI index, composed of shares of the Asia-Pacific, has hit record highs since the month of August thanks to an improvement in confidence and closed up 0.8%, according to Reuters.
"As traders start looking for stronger evidence that a trade deal between the two powers is achievable in the coming months, there is also the feeling that investors are looking for any positive rhetoric to support the ongoing recovery. ", according to Jasper Lawler. , head of research at London Capital Group.
Here is the summary:
- Raw Brent traded at $ 69.75, up 0.6% at 8:45 am in London (3:45 am ET). WTI continues to grow and increases by 0.3%.
- the Shanghai composite closed up 1.2% while Asian stocks improved significantly, with South Korean companies KOSPI and Nikkei up 1.2% and 1%.
- the Euro Stoxx 50 was up 0.9% while European equities followed Asian markets with DAX up 1.2% and the French CAC40 up 0.8%.
- US futures are following with the Nasdaq up 0.7%, while the S & P 500 and Dow index rose 0.5%.
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