European shares poised for sixth weekly gain, aided by trade optimism - EntornoInteligente /

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2019. REUTERS/Staff/File Photo (Reuters) – European shares were on course for a sixth straight weekly gain on Friday, following a record close on Wall Street as bullish comments from a White House official on a U.S.-China trade deal boosted trade-sensitive miners, technology stocks and automakers.

The pan-European STOXX 600 index gained 0.4% by 0819 GMT, inching back to a four-year high hit last week.

White House economic adviser Larry Kudlow said late on Thursday Washington and Beijing were getting close to a trade agreement, citing what he called very constructive talks with Beijing about ending a 16-month trade war.

Miners .SXPP were the top gainers on the day, up about 1.5%, followed by technology stocks .SX8P.

Shares in chipmakers Infineon ( IFXGn.DE ), STMicroelectronics ( STM.BN ) and ASML Holding ( ASML.AS ) rose between 0.8% and 1%, after industry bellwether Applied Materials ( AMAT.O ) forecast a strong first quarter ahead of the 5G rollout in key markets.

Telecom shares .SXKP were boosted by a 2.5% gain in Orange ( ORAN.PA ) after France’s biggest telecoms operator said it was preparing to split its mobile towers unit into a separate company.

Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu



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