European stocks stagnate on tepid reaction to partial US-China deal; Pearson down 13%

European stocks were stagnant on Thursday morning as reaction appeared muted to the signing of a partial trade deal between the U.S. and China. The pan-European Stoxx 600 hovered just above the flatline in early trade, with travel and leisure stocks slipping 0.6% to lead losses while food and beverage stocks gained 0.4%. President Donald Trump signed an initial “phase one” trade deal with China on Wednesday that will roll back some of the tariffs on one another’s goods and increase Chinese purch


European stocks were stagnant on Thursday morning as reaction appeared muted to the signing of a partial trade deal between the U.S. and China.
The pan-European Stoxx 600 hovered just above the flatline in early trade, with travel and leisure stocks slipping 0.6% to lead losses while food and beverage stocks gained 0.4%.
President Donald Trump signed an initial “phase one” trade deal with China on Wednesday that will roll back some of the tariffs on one another’s goods and increase Chinese purch
European stocks stagnate on tepid reaction to partial US-China deal; Pearson down 13% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, partial, worlds, muted, uschina, trade, stagnate, reaction, phase, stocks, china, deal, widebodied, tepid, dutch, chinese, pearson


European stocks stagnate on tepid reaction to partial US-China deal; Pearson down 13%

European stocks were stagnant on Thursday morning as reaction appeared muted to the signing of a partial trade deal between the U.S. and China.

The pan-European Stoxx 600 hovered just above the flatline in early trade, with travel and leisure stocks slipping 0.6% to lead losses while food and beverage stocks gained 0.4%.

President Donald Trump signed an initial “phase one” trade deal with China on Wednesday that will roll back some of the tariffs on one another’s goods and increase Chinese purchases of U.S. products.

While the deal takes some steps to address unpalatable trade practices by Beijing, many of the key structural issues at the heart of the trade conflict remain unresolved as the two sides enter “phase two.”

Asian markets posted muted gains Thursday, Hong Kong’s Hang Seng index adding 0.4% while mainland Chinese stocks failed to get off the ground, with the Shanghai composite retreating 0.3%.

Back in Europe, trade tensions also flared between China and the Netherlands after Beijing’s ambassador was quoted warning the Dutch government against preventing Dutch semiconductor equipment supplier ASML from shipping its newest products to China.

In corporate news, Atlantia is hoping to reopen talks with Italy’s coalition government on motorway toll cuts following a long-running dispute over its concessions, Reuters reported citing two sources.

Meanwhile Airbus Chief Commercial Officer Christian Scherer told Reuters on Wednesday that the world’s largest planemaker sees enough demand for its wide-bodied A330neo passenger jet to retain stable production levels.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, partial, worlds, muted, uschina, trade, stagnate, reaction, phase, stocks, china, deal, widebodied, tepid, dutch, chinese, pearson


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