European stocks near one-month highs as real estate firms surge
European stocks continued to trade near one-month highs on Friday, helped by a surge in German real estate companies and on relief that trade tensions between the United States and China were easing,reposts Trend citing to Reuters.
The two sides gave signs on Thursday they discussed the next round of in-person negotiations in September ahead of a looming deadline for additional U.S. tariffs.
That eased trade tensions and helped stock markets rally 1% in the previous session and helped the pan-European STOXX 600 index rise 0.68% to hit its highest level since Aug. 2 by 0810 GMT on Friday.
“The most important thing for markets right now is that China hasn’t escalated the trade war by retaliating against the latest U.S. tariffs,” said Teeuwe Mevissen, Senior Market Economist at Rabobank.
“Markets are now awaiting the talks and since the chances of seeing escalation in trade has greatly diminished, there will be some relief for the coming period.”