Renewed trade optimism helped prop up European shares in early dealings on Thursday, after a report said the United States and China have reached a tentative truce ahead of a highly anticipated G20 summit this weekend. However the markets finished mixed. The pan-European STOXX 600 index remain unchangedd barely above the flatline. The DAX gained 0.21%, while the FTSE 100 led the CAC 40 lower. They fell 0.19% and 0.13% respectively.
The major U.S. stock indexes ended with mixed results on Thursday, as investors weighed various reports on the potential for a trade deal between China and the U.S. at this weekend’s G-20 summit. The Dow Jones Industrial Average fell 11.24 points, or 0.04%, to 26,526.58, the S&P 500 gained 11.14 points, or 0.38%, to 2,924.92 and the Nasdaq Composite added 57.79 points, or 0.73%, to 7,967.76.
Oil prices edged higher on Thursday on expectations that OPEC will extend an output cut agreement, while investors awaited a meeting between the United States and China that could produce a breakthrough on trade talks.August West Texas Intermediate crude added 5 cents, or nearly 0.1%, to settle at $59.43 a barrel. Prices on the New York Mercantile Exchange. International benchmark August Brent crude tacked on 6 cents, or about 0.1%, to end at a roughly one-month high of $66.55 a barrel, ahead of the contract’s expiration at the end of Friday’s session.
Asian shares stumbled on today amid rising doubts that a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions. The markets finished lower today with shares in China leading the region. The Shanghai Composite is down 0.60% while Japan's Nikkei 225 is off 0.29% and Hong Kong's Hang Seng is lower by 0.28%. TheKospi is down 0.17%. The ASX 200 is off 0.71%.
European stocks edged higher on today, as investors treaded cautiously ahead of a critical G20 meeting where the outcome of U.S-China trade talks will be closely monitored against the backdrop of a slowing global economy. The pan-European STOXX 600 index is up 0.19%. The DAX is up 0.46% while London's FTSE 100 is up 0.21% and France's CAC 40 is up 0.11%.