European shares ground out gains for the fourth day running on Friday as signs o...
- European shares ground out gains for the fourth day running on Friday as signs of progress in U.S.-China trade talks propped up shares after a mixed response to stimulus from the European Central Bank a day earlier.
Bank stocks .SX7E, which wavered after the decision, rose on Friday, with analysts citing the ECB’s easing of the terms of its long term loans to banks and the introduction of a tiered deposit rate as offsetting the pain of negative rates. Both the pan-European STOXX 600 index and the euro zone only index .STOXXE were higher after an hour’s trade, but the gains were muted and suggested investors may have had their fill after four weeks of gains that have indexes back near levels last seen in July.
Trade-reliant commodity-linked .SXPP and automotive .SXAP stocks were boosted by fresh indications that a prolonged trade war between the United States and China was thawing.
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