European equities at three-month highs on wave of trade-talk optimism
Bumper earnings lift shares, but news that Germany dodged recession by only the narrowest of margins leaves the euro feeling unloved
London — Optimism about US-China trade talks and bumper earnings lifted European shares to a three-month high on Thursday, though news that Germany dodged recession by only the narrowest of margins left the euro feeling unloved. Markets were generally in a cautious mood as investors hung on for any hint of progress in the tariff talks amid reports the White House could extend the deadline for a deal. Stocks extended gains regardless. Strong results from Nestlé, drugmaker AstraZeneca and plane giant Airbus lifted the pan-European Stoxx 600 0.5% to put it on course for its fourth day of gains and best week since early November. “Cupid continues to shoot out bullish arrows across financial markets with last week’s blip almost forgotten about for now,” Deutsche Bank said in a morning note. The euro did not share the feeling, however. It struggled near a three-month low as data showed Germany’s economy stalled in the fourth quarter, with fallout from global trade disputes and Brexit thre...
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