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Trade optimism pushes European shares higher

European stocks showed early Tuesday’s boost, following Asian stocks gains on investors’ optimism over U.S.-Sino trade negotiations this week.

The automotive sector was the biggest gainer, having shown a 2.2 percent surge, due to better than expected results from Michelin, that lifted the investors’ mood.

The pan-European STOXX 600 raised by 0.60 percent at 10.20 GMT due to the rest indexes surge:

  • London’s FTSE 100 grew 0.35 percent;

  • Frankfurt’s  DAX jumped 1.08 percent;

  • Paris CAC 40 added 0.84 percent;

  • Milan’s FTSE MIB ticked up 0.62 percent;

  • Madrid’s Ibex 35 rose 0.35 percent;

european stocks michelin 1202Photo: Pixabay

The French tire maker Michelin rallied around 11 percent, being on track for its best result in a decade. Among Tuesday’s gainers were also Italian Pirelli and German Continental.

The Sino-American trade conflict could lead to refreshed volatility, though growing political tensions in Italy, Germany and France and cloudy Brexit outcome could impact further on European stocks, according to Credit Suisse Group AG, Swiss multinational investment bank and financial services company’s post.

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