Europe open: Stoxx jumps on US-China deal.

European shares opened the final session of the week strongly after the US and China reportedly agreed a trade deal and Washington officials said deals with other nations were in the pipeline.

Source: Sharecast

The pan-regional Stoxx 600 index was up 0.83% to 541.92 in early deals. Germany’s DAX rose by 0.85% and France’s CAC 40 gained more than 1%.

US President Donald Trump said a “very big” deal had been done with China, but did not provide any details, and added that there could be a separate agreement soon that would “open up” India.

A White House official on Thursday said Washington and Beijing had reached agreement on “how we can implement expediting rare earths shipments to the US again”.

Trump’s 90-day trade war pause expires on July 8 and 9.

There was little in the way of corporate news to drive sentiment further. Shares in JD Sports Fashion surged on the back of positive noises from major client Nike overnight that it was over the worst of its corporate restructure in the face of waning demand for its products. Puma and Adidas shares were also up on the news.

Reporting by Frank Prenesti for Sharecast.com

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