Equities edge higher as planned China-US talks soothe traders’ nerves
Global stocks rise on the news that a Chinese delegation will meet US representatives, while the recovery in Turkey’s lira runs out of steam
London — World stocks rose on Friday as news of plans for US-China trade talks soothed nerves over their tariff war, while the recovery in Turkey’s lira ran out of steam. The MSCI All-Country World index, which tracks shares in 47 countries, was up 0.2% but set for its third consecutive weekly fall. A Chinese delegation led by vice-minister of commerce Wang Shouwen will meet US representatives, China’s ministry of commerce said in a statement, with the Wall Street Journal, reporting that talks will take place in Washington on August 21 and 22. The world’s two largest economies are due to slap tariffs on billions of dollars of each other’s goods on August 23 in addition to levies that took effect on July 6.
"There is still a great deal of difference between agreeing to talk and coming to an agreement," said CMC Markets analyst Michael Hewson. "For now it appears an escalation has become less likely, hence yesterday’s rebound in equity markets," he said, referring to an overnigh...
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