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Global stocks mixed amid trade uncertainty

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Global stocks were mixed Wednesday as uneasy investors watched for signs of progress on ending the U.S.-China tariff war following President Donald Trump's conflicting comments on the status of negotiations.

Markets rose after Trump said Monday that Beijing was ready to talk seriously about a worsening tariff war over trade and technology following two weekend phone calls. But investors were left guessing after a Chinese foreign ministry spokesman couldn't confirm any exchange took place.

In early trading, London's FTSE 100 gained 0.3% to 7,114.81 and Frankfurt's DAX fell 0.5% to 11,671.66. France's CAC 40 was off 5 points at 5,360.00. In Asia, the Shanghai Composite Index lost 0.3% to 2,893.76 and Tokyo's Nikkei 225 advanced 0.1% to 20,479.42. Hong Kong's Hang Seng retreated 0.2% to 25,615.48.

UBS, the world's largest wealth manager, recommended customers reduce their exposure to stocks, the first time the bank has done so since the depths of Europe's debt crisis in 2012.

 

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