Dipo Olowookere
Investors Hub
European stocks have advanced on Monday after both Washington and Beijing made positive comments about the potential for a trade deal between them.
China has offered to raise penalties on intellectual property violations in an attempt to hammer out a partial trade deal with the United States.
U.S. national security adviser Robert O’Brien said an initial trade deal was still possible by the end of the year.
A tabloid run by China?s ruling Communist Party discounted “negative” media reports and said both countries were “very close” to a phase one trade deal.
China also remains committed to continuing talks for a phase two or even a phase three deal with the United States, the state-backed Global Times said on its Twitter feed.
While the U.K.?s FTSE 100 Index has jumped by 1 percent, the German DAX Index and the French CAC 40 Index are both up by 0.5 percent.
French luxury products maker LVMH Moët Hennessy Louis Vuitton has jumped after it reached a deal to acquire jeweler Tiffany & Co. (TIF) for $135 per share in cash.
British Airways-owner IAG has also risen after it reached a preliminary agreement with its pilots’ union BALPA to end a pay dispute.
Specialty chemicals company Sika has also show a notable move to the upside after agreeing to acquire Adeplast SA.
On a light day on the economic front, data from the Ifo institute showed German business confidence improved in November. The business confidence index rose to 95.0 from 94.7 in October, in line with expectations.
