Europe stocks rally on U.S., China optimism; Daimler gains on Chinese stake
European stocks on Wednesday rose to nearly a seven-month high, helped by optimism over U.S.-China trade talks and an agreement for increased spending in the world’s largest economy.The FTSE 100 UKX, +0.66% advanced 0.7% to 7,565.18.
Also helping was a report in The South China Morning Post that a U.S. delegation led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin is likely to visit Beijing next week, for the first face-to-face meetings since the G20. An in-person meeting between Lighthizer, Mnuchin and Vice-Premier Liu He, who leads China’s negotiation team, would be seen as a positive step towards reducing trade tensions, the report said.
Computer peripheral maker Logitech LOGN, +6.87% LOGI, +2.05% jumped 6% in Swiss trade after confirming 2020 targets for sales growth and operating income.
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