European shares rise as the US-China plan fresh trade talks

European shares are higher Friday, as investor sentiment is buoyed by news the US and China could engage in further trade talks, while the Turkish Central Bank has raised rates to support the troubled lira.

European shares rise as the US-China plan fresh trade talks

European shares are higher Friday, as investor sentiment is buoyed by news the US has extended an invitation to China for fresh trade talks between the two countries. Concerns over emerging markets also eased, as the Turkish Central Bank raised its interest rates to help prevent a currency crisis.

By 1550 BST, the EUROSTOXX 600 was 0.33% higher, while the EUROSTOXX 50 was up 0.35%. Regional bourses were also positive. The German DAX was 0.53% in the green, the French CAC rose 0.55% and the Spanish IBEX gained 0.35%.

Fresh US-China talks planned

Investors were likely buoyed amid news Washington had extended a new invitation to Beijing to discuss trade tariffs between the two countries. Chinese officials reportedly welcomed the development.

However, US President Donald Trump’s tweet Thursday, is no doubt ensuring that some worries remain.

“we are under no pressure to make a deal with China, they are under pressure to make a deal with us. Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?,” Trump tweeted.

In addition to signals that the two countries are still amenable to talks, was the news that the Turkish Central Bank opted to raise its key interest rate to 24% in a bid to support the local currency after it has lost 40% in value against the US dollar in the year-to-date.

Stock movers

Amid that backdrop, some stock movers of note included:

Ryanair shares rose 2.18% to €13.34 after securing a CLA framework with the unions that represent its Italian cabin crew staff.

Thyssenkrupp shares made gains after announcing a restructure where it had separated its shipbuilding unit from its industrials unit and named a new leadership team to run the struggling industrial section. Thyssenkrupp shares were 0.05% higher at €18.94.

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