LONDON - European shares rose to fresh one-month highs and safe-haven assets such as gold and the yen fell after news of U.S.-China talks set for early October raised hopes of a de-escalation in their trade war before it further damages the world economy.
The rally followed gains in Asia, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining as much as 1.08% to reach its highest since Aug. 2.The Chinese yuan jumped versus the dollar in offshore trade, while safe-haven assets such as gold, the Swiss franc, and the yen fell. “The general market tone is driven by the announcement of the meeting of high-ranking officials between China and the U.S,” said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners.
Weighing on sentiment was data that showed German industrial orders fell more than expected in July on poor demand from abroad, indicating manufacturers in Europe’s biggest economy continue to struggle in the third quarter. In currency markets, the British pound lost some of its overnight gains on concern that an election is still pending, although Britain might have averted leaving the European Union next month without a transition deal.
The europian stocks need more control about the quality of the products, they are comming from China!
Who are the people who keep falling for this ruse?