Traders from ETX Capital work in central London, the UK. Picture: AFP/DANIEL LEAL-OLIVAS
Last week’s decision by US President Donald Trump to sign legislation backing protesters in Hong Kong initially rattled markets, with the worry it will unravel progress made in talks between Beijing and Washington. In Europe, the Euro Stoxx 600 rose 0.26% while the German DAX was 0.23% higher. French and British shares were also climbing.
Savary noted that European manufacturing data had also posted an improvement, while eurozone inflation was higher than expected. The 10-year German bond yield was last up five basis points at -0.302%, a two-week high. That helped spur a sell-off across eurozone government bond markets. But the two countries have been so far unable to bridge the gap over existing tariffs on Chinese goods, with Beijing demanding the scrapping of them as a part of any trade deal.
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