European Shares Down With Trade Tension in Mind; Altice Jumps
(Bloomberg) -- European shares opened down, and are poised to close another month with losses, while investors will look to the G-20 summit and any moves toward a resolution to the trade war.
The Stoxx 600 Europe Index was down 0.3 percent at 8:19 a.m. London time. Telecom carrier Altice Europe N.V. jumped 7 percent after it agreed to sell a stake in its French fiber unit. The general benchmark’s decline in November sets this year’s losses to about 8 percent.
U.S. President Donald Trump said Thursday he is very close to “doing something” with China, which raised expectations the trade war between both countries could be come to a truce. Trump and President Xi Jinping are scheduled to meet at a dinner Saturday on the sidelines of the G-20 summit in Buenos Aires, Argentina.
“We will be watching for any news from Argentina. You never know what could happen with Trump, but China is in a less stronger position and an agreement would be convenient for the country and will also be welcomed by the market,” said Fernando Hernandez, head of equities at Andbank Wealth Management. “Going into December we expect some days of positive trading ahead of what will probably be a complicated 2019.”
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