UPDATE 1-European shares tick up as U.S.-China trade deal offers some relief [Reuters]
RWE AG ORD S/ADR (RWEOY)
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Source: Reuters
European shares tick up as U.S.-China trade deal offers some relief (Reuters) - European shares rose on Thursday after the United States and China signed an eagerly awaited Phase 1 trade deal, giving some relief to markets that have been roiled by the 18-month standoff between the world’s two-largest economies. The pan-European STOXX 600 index was up 0.3% by 0857 GMT. The deal, signed in Washington on Wednesday, still raises questions over daunting purchase commitments of U.S. goods by China, while leaving existing tariffs in place. However, the prospect of no further escalation in the economically damaging trade war encouraged a slight risk-on mode. “The details that were released after the signing were pretty much in line with what markets expected. There wasn’t anything suggesting that the deal would over deliver,” said Simona Gambarini, markets economist with Capital Economics in London. European utility stocks .SX6P touched their highest levels since late-2008 on strength in powe
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