European shares edge higher after U.S.-China trade deal

European shares gained ground on Thursday after the United States and China signed an eagerly awaited Phase 1 trade deal, but some questions still remained over certain key issues.

The pan-European STOXX 600 index was up 0.1% by 0806 GMT. Global markets paused around record highs following the signing of the agreement on Wednesday, as the deal highlighted the daunting purchase commitments of U.S. goods by China while leaving existing tariffs in place.

However, the prospect of no further escalation in the economically damaging trade war encouraged a slight risk-on mode. The European retail subindex was the best performer, led by an 11.1% rise in German meal-kit delivery company HelloFresh after it flagged a stronger 2019.

 

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