Markets

European stocks open with limited gains on US tariffs threat

2019-07-02 12:54:05 GMT (Economies.com)

European shares rose on Tuesday, extending gains for a third consecutive session, near a two-month high after US-China trade talks resumed, but gains remain limited after Washington threatened to impose tariffs on products worth about $4 billion from the European Union.

 

As of 10:55 GMT, Stoxx Europe 600 rose 0.1% and the index ended yesterday's session up by 0.8%, its second consecutive daily gain, hitting a two-month high after the announcement of a US-China trade truce.

 

The index rose in morning trade today to continue its gains for a third session in a row, but gains remain limited with most of Europe's main sectors having a mixed performance.

 

A few days after a truce was reached in the US-China trade war, the US government has stepped up the pressure on the EU in a long-standing dispute over the aircraft companies support.

 

Office of the United States Trade Representative published a list of additional $4 billion worth of products from the European Union that may be subject to tariffs, as the United States has already imposed tariffs on European products worth $21 billion in April.

 

S&P 500 futures fell more than 0.2%. while the index ended yesterday's session on Wall Street, up by 0.8%, its third consecutive daily gain, hitting a new record high of 2,977.93 points.

 

Euro Stoxx 50 index gained more than 0.1%, while in France, the CAC 40 index gained 0.1%, with Germany's DAX rising 0.1%. and London's FTSE 100 index added about 0.6% to top the gainers list in Europe.

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