European stocks recovers as U.S. eases restrictions on Huawei

2019-05-21 13:14:44 GMT (

European shares rose Tuesday morning on their way to their first gain in the last three sessions as investor sentiment improved after the United States temporarily eased trade restrictions on Huawei.


As of 10:55 GMT, Stoxx Europe 600 Index rose by more than 0.7%, as it ended yesterday's session down by 1.1%, its second consecutive daily loss, due to concerns about a slump of global trade after the US forced restrictions on the Chinese company, Huawei.


The Index rose Tuesday morning on its first gain in the last three sessions, with most of the major markets and sectors in the Green Zone.


The technology sector led the list of gainers in Europe with more than 1% rise, with most of the sector rebounding after the US government's decision to ease restrictions on Huawei.


The US government has temporarily eased some of the trade restrictions it imposed last week on Huawei, in a move that would help curb the disruption of the company's existing network operations and equipment worldwide.


The US Department of Commerce has allowed Huawei Technologies to purchase US-made materials to maintain existing networks and update existing software on the company's Chinese machines.


Standard & Poors' 500 futures rose by 0.5%, while the index ended yesterday's session on Wall Street down by 0.7%, the second daily loss in a row.


Euro Stoxx 50 index rose 0.75%, with France's CAC 40 index rising 0.7%, while in Germany DAX added 1.1% to top the gainers' list in Europe, and In London FTSE 100 rose more than 0.7%.

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