European stocks rise, cooling demand for safety of government bonds and gold
London — A break in the recent global trade-war squalls helped lift European stocks on Thursday and cooled demand for the markets’ traditional safety plays of government bonds and gold. Good-looking results from insurance heavyweights Munich Re, Generali and Old Mutual also helped Europe’s mood, but it was mainly relief that, for now at least, US President Donald Trump’s trade-war drum wasn’t beating any harder. The dollar consolidated a modest bounce following three days of losses, while the big credit market benchmarks of US treasuries and German bunds both saw selling for the first time in four days. China’s widely read and state-run tabloid the Global Times had added to the trade-war talk overnight, saying the US was trying to play the victim. Germany’s economic ministry then said a trade war could "cause tangible damage". In an ominous sign for Trump’s Republicans, eight months before national mid-term elections meanwhile, a moderate Democrat candidate looked to have won what s...
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