European Stocks Climb at Open on Trade Cease-Fire, Earnings Day
(Bloomberg) -- European equities advanced as the U.S. and the European Union reached a tariffs cease-fire and traders eyed a stream of corporate earnings.
The Stoxx Europe 600 Index added 0.3 percent with the miners and automakers leading the increase. Royal Dutch Shell slumped 1.2 percent after missing second-quarter profit estimates.
President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating lower barriers to transatlantic commerce. European stocks, especially miners and carmakers, have been whip-lashed by the ongoing tariff threats from the U.S.
Investors will also be focusing on European banking stocks as the European Central Bank may provide more clarity on the timing of the first rate hike next year. Financial shares, among the worst sectors in the region this year, were damaged by the June 14 ECB meeting after it became clear that rates will remain on hold, at least until the end of the next European summer.
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