Global stocks at highest in more than a month
The US is reportedly discussing lifting tariffs on Chinese imports, as European stocks rise to their highest since early December
London — Global stocks rose to their highest in more than a month on Friday after a report suggested progress towards resolving the trade dispute between the US and China. European stocks rose to their highest since early December, with the pan-European STOXX 600 index up nearly 1%. Trade-exposed indices and stocks gained the most, with automotive stocks rising 1.3% and Germany’s exporter-heavy DAX 30 up 0.7%. The gains followed the lead of stocks in Asia overnight, which took their cue from Wall Street’s performance on Thursday. The Wall Street Journal reported on Thursday that US treasury secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30. US stocks rallied on the report but pared some of the gains after the treasury denied Mnuchin had made any such recommendation. The Journal also reported that US trade representative Robert Lighthizer resisted Mnuchin...
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