Europe higher in early trade amid US-China trade war deescalation

Wednesday, 12. December 2018 09:21

European stock markets were in the green in early trade on Wednesday as United States President Donald Trump said he was optimistic about the chances to seal a trade deal with China. The world’s second largest economy acknowledged it would reduce tariffs on imported American cars from 40 to 15%. Meanwhile, the political tumult in the United Kingdom continued as Prime Minister Theresa May was faced with a no-confidence vote, with a group of Tory Brexiters gathered in the European Research Group (ERG) saying they have the needed 48 votes to trigger the vote. May's leadership will be challenged by MPs later in the day.

The FTSE 100 rose 0.36% at 9:15 am CET with Rolls-Royce Holdings PLC leading the gains. The DAX gained 0.43% at the time with RWE AG ST O.N. as the best performer. The CAC 40 added 0.60% early in the session CET led by Pernod Ricard.

The euro lost 0.07% against the dollar at 9:15 am CET to go for 0.9572.

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