Unsurprisingly, global shares opened significantly higher today after the U.S. – China trade truce confirmed investors’ hope. In addition, investors also welcomed the meeting between Donald Trump and the North Korean leader Kim Jong Un which took place in a demilitarized zone, in order to calm tensions down. Gains were led by the Tech sector in Asia overnight after President Trump took the decision to allow Huawei Technology Co to purchase products from U.S. suppliers, validating another step to the pursuit of peaceful trade talks with China.
Investors will now shift their focus to U.S data now as Friday’s June payroll is looming. At this point, everybody is curious to see whether the disappointing job report for was a one off or the start of a new trend.
Every European benchmark is trading higher this morning, the Stoxx-50 index is near a 10-months high, moving towards the 3,500.0pts zone. The DAX-30 is recording the best performance so far with prices trading around 12,575.0pts, the highest level since August 2018. The German index is now heading towards 12,680.0pts. The SMI-20 in Geneva registered a solid 95.0pts bullish gap at the opening as every listed stock traded higher. Financials with Credit Suisse Group and UBS Group lead gains by far this morning, while Telecommunication and Insurances registered the worst performances.
Photo by Sara Kurfess.
