European shares rise in view of truce in U.S-Sino trade war

European shares opened higher on Monday as optimism towards a deal to end the U.S.-Sino trade war lifted sentiment and a risk-on mood spread from Asia to European bourses in an otherwise slow day in terms of corporate earnings or economic indicators.

The pan-regional STOXX 600 index was up 0.4 per cent by 0835 GMT, hovering around levels not seen since the beginning of October. There were however strong losses, such as Britain's Rotork which posted the worst performance, losing 7.4 per cent after disappointing earnings.

Fashion retailer Ted Baker fell 3 per cent after it announced that its Chief Executive Officer Ray Kelvin resigned with immediate effect, following an investigation into allegations of misconduct. Among top gainers were the shares of publisher Daily Mail & General Trust, which jumped 5.4 per cent after unveiling plans to return all of its shares in Euromoney Institutional Investor and 200 million pounds ($265 million) cash to eligible shareholders. ($1 = 0.7556 pounds) (Reporting by Julien Ponthus; editing by Josephine Mason)