London — Global stocks rose on Monday amid optimism over planned trade talks between the US and China, while Turkey’s lira fell after its credit ratings were downgraded and shots were fired outside the US embassy in Ankara. European shares opened higher, as investors hoped the US and China might find a compromise to resolve their trade dispute. The pan-European Stoxx was up 0.7%, with most markets across the continent gaining. The gains in Europe helped lift the MSCI All-Country World index, which tracks shares in 47 countries, by 0.3%. The gauge has nearly recouped the losses from last week caused by the plunge in Turkey’s currency. China and the US will hold lower-level trade talks in August, the two governments said last week. The Wall Street Journal reported that the talks will take place on August 21 and 22. That is just before new US tariffs on $16bn of Chinese goods take effect, along with retaliatory tariffs from Beijing on an equal amount of US goods. Asian stock markets se...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.