UPDATE 1-Encouarging trade talk boost European shares [Reuters (UK)]
British American Tobacco Industries, p.l.c. ADR (BTI)
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Source: Reuters
Encouraging trade talk boost European shares - Reuters 3 Min Read (Reuters) - European shares moved higher on Thursday, with technology shares leading the charge after encouraging comments from China on trade with the United States soothed sentiment that was rattled by growth worries and political turmoil. The Chinese commerce ministry said Beijing is in close communication with Washington and is preparing to make progress at trade talks in October. Although investors are keeping a close watch and doubt a deal could be struck between the two sides in the near future, they are hopeful of any signs of progress in the negotiations. “There will be a deal toward the second quarter of the upcoming year,” said ING economist Timme Spakman, while adding that the U.S. needs to take a step back and give China some breathing space to make room for a deal. Trade-sensitive tech stocks .SX8P jumped 1.1%, helping the pan-European STOXX 600 index rise 0.5%. Euro zone's blue-chip index .STOXX50E climbe
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