European shares at record peak on China tariff cut plans, robust bank results


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European shares at record peak on China tariff cut plans, robust bank results

On Thursday, the 6th of February 2020, a slew of European stocks was mounted to record closing highs amid a broad-based rally in the global stocks following China’s decision to halve additional tariffs on as many as 1,717 US imports, while a bundle of solid earnings’ reports from eurozone banks had added to investors’ optimisms further.

Apart from that, on Thursday’s (February 6th) European market closure, a majority of European stock indices had extended their full-fledged rallies in to the fourth straight day in a row, while the regional pan-European STOXX 600 index rounded off the day 0.4 per cent higher to 425.49 after hitting an intra-day high of 426.70, an all-time peak on record for the benchmark European stock index.

Besides, fuelled up by China’s latest move to curb additional tariffs on US imports aimed at containing financial fallouts of Wuhan coronavirus impact, trade sensitive non-cyclical goods and technology sub-sectors in Europe gained as much as 0.7 per cent and 0.5 per cent respectively.

Quoting statistics, on Thursday’s (February 6th) European market closure, London’s FTSE 100 gained 0.30 per cent to 7,504.79, French CAC 40 surged 0.88 per cent to 6,038.18, while Frankfurt’s DAX gained 0.72 per cent to 13,574.82.

Besides, elsewhere in the Europe, Madrid’s benchmark IBEX 35 jumped 1.01 per cent to 9,811.30, while Italy’s FTSE MIB mounted 1.13 per cent to wind down Thursday’s (February 6th) market at 24,482.63.