European stocks rally as rate cut prospect offsets trade war tensions

LONDON: European stock markets extended their strong run higher on Tuesday , with the prospect of a US interest rate cut helping to offset trade war tensions according to traders.

"Once again, it's central banks that are left to fill the economic void, easing investor fears over trade wars and a global slowdown." US producer price data released on Tuesday corroborated the view that price pressures in the world's biggest economy remain contained.Brexit uncertainty has meanwhile reduced expectations of a rate hike from the Bank of England any time soon, while the European Central Bank has vowed support to stimulate a struggling eurozone economy.

Trump said a meeting with Chinese President Xi Jinping had been"scheduled" during the G20 summit in Japan later this month.Channel NewsAsia - Sentifi topic widget

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