FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 30, 2019. REUTERS/Staff
November 8, 2019
(Reuters) – European shares opened lower on Friday, halting a week-long rally after mixed signals on U.S.-China trade left investors uncertain on whether the two sides are really getting close to signing a deal.
The pan-European STOXX 600 index <.STOXX> fell 0.4% at 0807 GMT, but was still set to end its fifth straight week in the black.
Tariff-hit miners <.SXPP>, among the most exposed to the trade conflict and its implications for global growth, led losses with a 1.3% fall. Defensive plays including telecoms <.SXKP> and utilities <.SX6P> eked out small gains.
Global equity markets cheered news on Thursday that the United States and China had agreed to roll back tariffs on each others’ goods in a “phase one” trade deal.
Hopes were dampened, however, after Reuters reported that the plan faced internal opposition in the White House.
(Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham)
