Global markets get boost from US-China truce
European shares opened sharply higher, with the DAX — the most sensitive to China and trade war fears — leading the way with a 2.5% rise
London — A truce between US and Chinese leaders on trade tariffs provided boosted global markets on Monday, fuelling a nearly 1% surge on world stocks and pushing emerging currencies higher against the dollar. European share benchmarks opened sharply higher, with Germany's DAX — the most sensitive to China and trade war fears — leading the way with a 2.5% rise to its highest level since November 14, and Wall Street too was set for a stronger session. The gains came after China and the US agreed at the weekend to halt additional tariffs on each other. The deal prevents their trade war escalating as the two sides try to bridge differences with new talks aimed at reaching a deal within 90 days. US President Donald Trump also said that “China has agreed to reduce and remove tariffs on cars coming into China from the US. Currently the tariff is 40%”. That helped boost European vehicles more than 4% “We have a deal. That's wonderful news for global financial markets and signalling the sta...
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