European stocks move higher as US-China trade talks resume
Monday, 7 January 2019 15:50 WIB | MARKET UPDATE |EropaIndeks Stoxx Europe 600

Investor sentiment was positive on the back of a fresh round of trade talks between the U.S. and China, due to take place Monday and Tuesday.

Basic resourced led the gains, up by more than 1 percent. The sector is highly sensitive to developments in China. Auto stocks also moved higher on the back of hopes that China and the U.S. strike a deal.

On the other hand, food and beverages was the worst performing sector. Heineken dropped as much as 2 percent following news that Goldman Sachs double downgraded the stock to a œsell grade.

In other company news, Alstom fell to the bottom of the index, down by more than 4 percent. This followed reports from the French newspaper Les Echo citing that the Alstom-Siemens rail deal is unlikely to be approved by European authorities.

CNBC

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