Shares crept higher in most major markets on Thursday as a lull in the Sino-U.S. trade tussle and talk of more stimulus in China helped calm nerves.
Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as the trade dispute between the United States and China escalated further.
Global stocks slid on Monday and US oil prices slumped after US President Donald Trump announced tariffs on Chinese goods and Beijing responded with similar measures in an escalating trade dispute.
An MSCI index of European stocks was up 0.7 percent in early trading, not far from a recent two-week high.
World stocks slipped as expectations of trade tensions dominating this weekend’s summit of G7, along with renewed talk of monetary tightening by major central banks, weighed on risk sentiment.
World stocks hit a record high, spurred on by a new all-time peak for Apple, a 17-year top for European tech firms and news that Twitter and Netflix were set to join Wall St’s flagship S&P 500 index.
Global shares rose as worries over a trade war between the US and other major economies took a back seat, with investors focusing on an easing of political risks in Europe and strong U.S. jobs data.
Japan’s Nikkei ended down 1.1% after Nissan, Mazda all skidded, while BMW, Daimler and Volkswagen reversed between 1.7-2.3%.
Investors sold equities and raced to buy yen and government bonds from the US and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth.
Stocks, oil prices and the dollar were on the rise after the US-China trade war was declared “on hold” while in Europe, Italy’s borrowing costs climbed and the Milan bourse retreated.
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TOI & ET REPORTS