European Shares Hit Highest Level Since December

By Investors Hub

European stocks rose on Friday and hit their highest level since early December as investors cheered a solid start to the U.S. corporate earnings season as well as signs of progress in U.S.-China trade talks.

There is anticipation of a thaw in the China-U.S. trade war amid a report U.S. officials are debating lifting tariffs on Chinese imports to give Beijing a reason to make deeper concessions in ongoing trade talks.

While the German DAX Index has spiked by 1.9 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index have both shot up by 1.6 percent.

Automakers BMW, Daimler, Volkswagen and Renault have moved notably higher amid easing concerns around tariffs.

French retailer Casino Group has also rallied after its fourth quarter total sales grew 5.1 percent on an organic basis and 3.6 percent on a same-store basis.

On the other hand, Telecom Italia has plunged after the company warned 2018 earnings from its domestic business would be lower than in 2017. Low-cost airline Ryanair has also dropped after yet another profit warning.

Cyber security expert Sophos has also slumped after the company reported ?subdued performance? in its third quarter trading update.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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