Europe closes mostly flat ahead of China deal signing

Tuesday, 14. January 2020 17:30

Equities on major European stock markets closed mostly flat on Tuesday in anticipation of the signing of the phase one trade deal between the United States and China scheduled for Wednesday. Also, the US Treasury Department removed China from its list of designated currency manipulator as Secretary Steven Mnuchin said that the country "has made enforceable commitments to refrain from competitive devaluation while promoting transparency and accountability" as part of the trade deal.

Meanwhile, the US, European Union and Japan said in a joint statement that existing World Trade Organization (WTO) regulations are not enough and that more needs to be done to limit government subsidies globally.

Shares on Frankfurt's DAX index were flat at the close as Wirecard AG grew by 4.67%. Paris' CAC 40 was flat as well and TechnipFMC plc dropped 2.83%. At the same time, London's FTSE 100 closed 0.13% in the green with Nmc Health PLC as the best-performing stock, rising 10.23%.

The pound rose 0.06% on the US dollar, changing hands for 1.30050 at 5:33 pm CET, while the euro fell 0.10% against the US currency, going for 1.11266 at the same time.

Related Links: 
Author:
Breaking the News / TF