By Reuters
European shares rose on Friday, with London stocks outperforming due to a weaker pound, while hopes of a quick resolution to the US-China trade war offset worries of slowing economic growth and rising political risks.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 19, 2019. (REUTERS/Staff/File Photo/MANILA BULLETIN)
The pan-European STOXX 600 index rose 0.5%, with export-heavy London's FTSE 100 .FTSE up almost 1%, led by gains in oil majors and miners.
The United States and China are prepping for another round of high-level trade talks scheduled for Oct. 10 and 11 in Washington, aimed at resolving their near 15-month long trade dispute.
The European basic resources sector .SXPP jumped 1.4%, powered by a rise in shares of Norwegian aluminum company Norsk Hydro (NHY.OL), which gained 1.9%, after a Brazilian court lifted its final production embargo on the company’s key plant.
However, shares of semiconductor companies Infineon (IFXGn.DE), AMS (AMS.S) and ASM International (ASMI.AS) came under pressure after a profit warning from U.S. chipmaker Micron Technology Inc (MU.O).
Tech stocks .SX8P edged 0.1% higher, posting some of the smallest gains among the major European sub-sectors.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 19, 2019. (REUTERS/Staff/File Photo/MANILA BULLETIN)
The pan-European STOXX 600 index rose 0.5%, with export-heavy London's FTSE 100 .FTSE up almost 1%, led by gains in oil majors and miners.
The United States and China are prepping for another round of high-level trade talks scheduled for Oct. 10 and 11 in Washington, aimed at resolving their near 15-month long trade dispute.
The European basic resources sector .SXPP jumped 1.4%, powered by a rise in shares of Norwegian aluminum company Norsk Hydro (NHY.OL), which gained 1.9%, after a Brazilian court lifted its final production embargo on the company’s key plant.
However, shares of semiconductor companies Infineon (IFXGn.DE), AMS (AMS.S) and ASM International (ASMI.AS) came under pressure after a profit warning from U.S. chipmaker Micron Technology Inc (MU.O).
Tech stocks .SX8P edged 0.1% higher, posting some of the smallest gains among the major European sub-sectors.