Global stocks inch up on trade hopes but growth fears temper gains
TOKYO - Global shares edged up on Tuesday after U.S. Treasury Secretary Steven Mnuchin confirmed U.S.-China trade talks will resume next month, but lingering concerns about slowing global growth reduced the overall appetite for riskier assets.
Japan’s Nikkei was up 0.2% after a market holiday on Monday while European shares are also on track to open higher, with pan-European Euro Stoxx 50 futures up 0.26%, German DAX futures up 0.24% and FTSE futures up 0.33%. “It seems there have been a lot going on behind the scenes,” he said, referring to unusual exchanges in which U.S. President Donald Trump questioned a decision by his top trade negotiators to ask Chinese officials to delay a planned trip to U.S. farming regions.
Concerns over a slowing global economy remained front and center for financial markets, hurting earnings estimates, as poor business activity readings from the euro zone deepened fears of a recession and suggested more stimulus was required. The euro wobbled at $1.0987, falling below a key support around $1.10 and not far from a 28-month low of $1.0926 touched earlier this month.
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