On Monday, the 4th of March, 2019, the European shares had surged on to a five-month high, largely fueled by the gains of cyclical stocks and aided by hopes of a possible end of US-China trade war. After a Washington Post report revealed on Sunday (March 3rd) that the US President Donald Trump and the Chinese President Xi Jinping would likely to seal a trade deal in a political padding, over a Summit on March 27th in Florida, the terms of which were still being prepared, the European shares had started the day higher and remained upbeat throughout the intra-day trading.
The Pan-European STOXX 600 index had surged as much as 0.6 percent during the early European trading session, breaching its highest level since October 5th, after closing the day 0.2 percent higher, as late European session was experienced a downswing alongside Wall St.
followed by the release of a shocking US construction spending report. London gained 0.39 percent to 7,134 at the day’s closure, and the Paris’s CAC 40 added 0.41 percent, while Germany’s trade sensitive DAX 30 closed the day with a slight plunge of 0.08 percent after remaining upbeat for most part of the European trading session.
The Pan-European STOXX 600 index had already added 11 percent this year, while multiple analysts were expecting to end the year closer to its current level.