- Title: European markets cheer China policy easing, trade progress
- Date: 2nd January 2020
- Summary: FRANKFURT, GERMANY (JANUARY 2, 2020) (REUTERS) FRANKFURT STOCK EXCHANGE TRADING FLOOR BOARD SHOWING DAX CURVE CLOSE UP OF DAX CURVE VARIOUS OF TRADERS WORKING DETAIL OF BOARD SHOWING DAX OPENING AT 13233,71 POINTS DETAIL OF BOARD SHOWING CHANGES OF 0,02 PER CENT VARIOUS OF TRADERS DETAIL OF BOARD SHOWING HIGH OF 13303,74 POINTS AT 0820GMT AND LOW OF 13225,16 AT 0901GMT TRADER SIGN READING (German): "DAX SINCE 2009" ODDO SEYDLER HEAD OF SPECIALIST FLOOR TRADING OLIVER ROTH DESCENDING STAIRS (SOUNDBITE) (German) ODDO SEYDLER HEAD OF SPECIALIST FLOOR TRADING, OLIVER ROTH, SAYING: "For the new year we are expecting the same topics with which we left 2019. The same problems, the same geo-political topics. The trade war between China and the United States and of course the withdrawal negotiation between Great Britain and the EU. These are the significant topics besides economy and monetary policy." TRADER BOARD SHOWING MARKET SHARES AND PRICES (SOUNDBITE) (German) ODDO SEYDLER HEAD OF SPECIALIST FLOOR TRADING, OLIVER ROTH, SAYING: "The stocks are reacting positively to the possible agreement between the Chinese and the Americans and the signing of a final contract but that might still change. There is a negotiation going on, (U.S. President) Donald Trump is talking about 'Phase 2' and an ongoing negotiation with the Chinese. It is a "perpetuum mobile" and it is being pushed through. So, the topics of protectionism and trade war will accompany us through 2020 as well." TRADER VARIOUS OF BOARD SHOWING MARKET SHARES AND PRICES (SOUNDBITE) (German) ODDO SEYDLER HEAD OF SPECIALIST FLOOR TRADING, OLIVER ROTH, SAYING: "The German industry is of course highly affected by the big steps taken toward digitalisation in the past months and this will remain so because the German industry will have to follow up on new investments and new ideas as well as new chances. And, that will be a bit of a burden for the industry and its place in the market." VARIOUS OF BOARD SHOWING SOFTWARE AND TELECOMMUNICATIONS SHARES DETAIL OF DAX CURVE TRADER TRADING FLOOR
- Embargoed: 16th January 2020 09:27
- Keywords: Europe stocks Frankfurt stock exchange
- Location: FRANKFURT, GREMANY
- City: FRANKFURT, GREMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA001BUHBGCT
- Aspect Ratio: 16:9
- Story Text: European shares started the new decade on a strong note on Thursday (January 2) as China further eased monetary policy to prop up the economy, with concrete indications of an imminent U.S.-China trade deal also lifting the mood.
Euro zone stocks jumped 1.1% on Thursday despite latest data showing factory activity in the bloc contracting for the eleventh straight month.
Caution had crept in towards the end of 2019 about how long the U.S.-China trade truce would last, but U.S. President Donald Trump brightened the mood on Tuesday (December 31) by saying the Phase 1 agreement would be signed on Jan. 15 at the White House.
On Wednesday (January 1), China's central bank said it would lower the reserve requirement ratio for banks for the eighth time since 2018, with the latest cut freeing up around 800 billion yuan ($115 billion).
(Production: Timm Reichert, Elena Gyldenkerne)
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