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PHOTO FILE: The DAX index of the German stock price index is presented at the Frankfurt Stock Exchange, Germany on May 15, 2019. REUTERS / Staff
(Reuters) – European equities rallied on Friday after a deadly session a day earlier, as US President Donald Trump predicts a swift end to the ongoing trade war with China, which has dominated market trading. during the past year.
The pan-European STOXX 600 was up 0.5% at 07:07 GMT but was on track to post a weekly loss and its first monthly decline since a sale at the end of last year that had sold 15% of the index.
Trump said last Thursday that the US complaints against Huawei Technologies could be resolved under the China-China trade agreement, but that no high-level discussion between the two countries would Has been programmed yet.
The German trade-sensitive DAX, up 0.8%, was at the top of the national indices, while automotive and mining stocks were the best performers among the European sectors.
A slight recovery in the pound has limited the progress of the FTSE 100, which tends to underperform when the currency rises. Prime Minister Theresa May is expected to announce the date of her departure on Friday.
In a relatively quiet day for corporate news, Casino's French shares rose 2% after the retailer said the filing of its parent company Rallye to protect itself from creditors had no impact on the implementation. of his strategy.
Report by Medha Singh and Agamoni Ghosh in Bengaluru; edited by Patrick Graham
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