Europe ends with gains as trade tensions ease

Monday, 03. December 2018 17:31

European markets closed higher on Monday after United States President Donald Trump and Chinese President Xi Jinping agreed, at the G20 summit in Buenos Aires, not to impose any new tariffs on each other's imports starting January 1. Meanwhile, the government of Qatar said earlier today that the country will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) in January. Qatari Foreign Energy Minister Mohammed bin Saleh al-Sada said that, despite Doha's decision to leave OPEC, it would remain dedicated to OPEC's policies concerning oil market.

The FTSE ended the trading session 1.39% higher. The DAX closed 1.92% in the green with Wirecard AG surging 5.21%. The CAC 40 was up 1.13% at the market close. The best trading stock was Valeo, jumping 7.94%. The Eurostoxx 50 increased 1.42% at the closing bell led by Kering sharp gains of 7.71%.

The euro advanced 0.28% against the dollar to change hands for 1.1353 at 5:31 pm CET.

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Breaking the News / SS