European shares lifted by U.S.-China trade optimism; LVMH gains

Focus now turns to the German IFO business sentiment survey due later in the day. Economists expect a reading
25 Nov, 2019
  • Focus now turns to the German IFO business sentiment survey due later in the day.
  • Economists expect a reading of 95 for November, slightly higher than the 94.6 recorded in October.
  • The pan-European STOXX 600 index was up 0.6pc at 0802 GMT.

A Chinese state-backed tabloid said on Monday China and the United States were "very close" to an initial trade agreement, adding to optimism from Friday, when the presidents of both the countries reiterated their desire for a deal.

The pan-European STOXX 600 index was up 0.6pc at 0802 GMT, led by trade-sensitive miners.

French luxury goods group LVMH rose 1.7pc after saying it had reached a definitive agreement to buy Tiffany & Co  in a $16.2 billion deal.

Focus now turns to the German IFO business sentiment survey due later in the day.

Economists expect a reading of 95 for November, slightly higher than the 94.6 recorded in October, according to a Reuters poll.

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