Upbeat earnings boost European shares; trade caution prevails

underperformed peers after sterling jumped on a report that the European Union was ready to agree to a major concession in Brexit negotiations.

“Markets appear to be making the calculation that even if no deal is agreed by the end of the week or the month, an extension will happen, and a no-deal Brexit avoided, at least in the short term,” CMC Markets analyst Michael Hewson said. The deeply uncertain future for Brexit, coupled with mounting concerns around an economically-damaging Sino-U.S. trade war, has knocked about 3% off the benchmark index in October, erasing all it’s September gains.

Washington’s move to impose visa restrictions on Chinese officials late on Tuesday aggravated worries after the addition of more Chinese companies to a U.S. trade blacklist, making investors skeptical of a quick resolution to the protracted trade war.Companies with strong earnings reports were leading gains on the STOXX 600 index. British bookmaker GVC rose 3.9% after raising its full-year core earnings forecast for the second time in three months.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks seen cautious as Fed hints slightly offset trade fearsEuropean stocks were seen cautiously higher Wednesday after comments from U.S. Federal Reserve officials signaled openness to further rate cuts, after a punishing session for global markets as hopes of a resolution to the U.S.-China trade war faded.
Source: CNBC - 🏆 12. / 72 Read more »

Trade War Seen Hitting Profits at ‘Business-as-Usual’ RetailersThe U.S.-China trade war is seen boosting apparel and accessories prices by 5 to 10 percent, with a corresponding hit to retailers’ profits, experts said.
Source: wwd - 🏆 24. / 68 Read more »

European stocks seen slightly higher as traders await US-China talksEuropean markets were seen opening slightly higher Tuesday morning as investors await news out of high-level trade talks between the U.S. and China, set to commence on Thursday. Pay no attention to the man behind the curtain !!
Source: CNBC - 🏆 12. / 72 Read more »