Equity markets were higher on Thursday and haven assets slipped as investors remained hopeful for a breakthrough in the trade dispute at the meeting this weekend between US President Donald Trump and his Chinese counterpart Xi Jinping.
London’s FTSE 100 ticked up 0.1 per cent, while the Xetra Dax 30 added 0.5 per cent.
Momentum ebbed at the start of European trade, after stronger gains in Asia.
China’s CSI 300 index of Shanghai and Shenzhen-listed shares rose 1 per cent. Those gains came after official data showed that Chinese industrial profits rose slightly in May, compared to April’s fall. Japan’s Topix rose 1.2 per cent.
Gold continued to move down from six-year highs, moving 0.3 per cent lower to $1,404 an ounce, and Japan’s yen weakened by 0.3 per cent to ¥108.06 per dollar. The yield on 10-year US Treasuries ticked up 1.3 basis points to 2.0623 per cent as investors moved out of it.
Mr Trump and Mr Xi are due to meet on the sidelines of the G20 summit in Osaka, which begins on Friday. The US president told Fox Business on Wednesday it was possible the US would reach a deal with China, but additional tariffs remained an option if not. US Treasury Secretary Steven Mnuchin earlier told CNBC that a deal on trade with China was “90 per cent complete”.
S&P 500 futures were pointing to gains of 0.3 per cent when Wall Street opens for business later on Thursday.
- 10.00: Eurozone industrial/services sentiment
- 13.00: German preliminary inflation
Top markets stories