European markets recover slightly as China opens door to trade talks
European equity markets recovered some ground after China indicated a willingness to engage in trade talks—provided the U.S. administration shows more respect and takes certain steps to improve relations.
The Stoxx Europe 600 Index was down 0.8% at 10:47 a.m. in London after falling as much as 1.4% in earlier trading, News.Az reports, citing Bloomberg.
The technology sector was the biggest laggard after Trump’s administration barred Nvidia from selling its H20 chip in China, in an escalation of Washington’s tech battle with Beijing.
China signaled it would be willing to engage in trade talks under the condition the US shows a more consistent position and reins in disparaging remarks by members of Trump’s cabinet.
“My impression is that the market became a little too optimistic after the snapback of the past few days, as we’re getting some data points that make us scratch our head,” said Philipp Lisibach, head of strategy and research at LGT Private Banking.
European stocks’ first-quarter record outperformance over the S&P 500 in dollar terms has been followed by investors grappling with the impact of Trump’s trade policies. The Stoxx 600 fell as much as 17% from a March all-time high, but has since recovered more than a third of the losses.
ASML Holding NV fell as much as 7.6% after orders for the first quarter were far lower than expected and the firm warned that it doesn’t know how to quantify the impact from recent tariff announcements. Heineken NV rose 3.1% after volumes of beer fell less than expected, even as a late Easter dampened demand for its top-selling brands in Europe and the Americas.
Similar news
