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European Shares Rebound On Trade Deal Optimism

(RTTNews) - European stocks bounced back on Friday after a sharp sell-off in the previous session on worries that the U.S.-China trade conflict was spiraling into a technology cold war.

Underlying sentiment was helped by U.S. President Donald Trump's comments suggesting that there is a "good possibility" of including Huawei in a trade deal to end their conflict.

Trump also said that he looks forward to seeing Chinese President Xi at the G20 very shortly.

Meanwhile, investors kept a close eye on Brexit developments after British Prime Minister Theresa May announced that she will resign as Conservative leader on Friday 7 June following the backlash against her new Brexit deal.

The pan European Stoxx 600 was up 0.7 percent at 376.41 after losing 1.4 percent in the previous session.

The German DAX was rising 0.8 percent, France's CAC 40 index was moving up 0.9 percent and the U.K.'s FTSE 100 was up 0.6 percent.

Informa Plc shares rallied nearly 2 percent in London. The events and publishing company said it continues to trade according to its plan and remains confident of meeting its fiscal year outlook.

Mining stocks were moving higher after Trump voiced optimism about reaching a trade deal with Beijing.

Anglo American advanced 1.9 percent, Antofagasta gained 1.3 percent and Glencore rose 0.6 percent.

Embattled retailer Mothercare jumped more than 10 percent after posting a narrower full-year loss from continuing operations.

Royal Mail, a postal service and courier company, soared 5.5 percent after Goldman Sachs raised its rating on the stock to 'buy'.

Casino shares jumped 12 percent in Paris. The retailer said that it isn't part of safeguard proceedings relating to its parent company Rallye.

A.P. Moller-Maersk dropped 1.7 percent. The Danish container shipping and logistics giant has warned of considerable uncertainties in view of rising trade tensions and slowing global growth.

In economic releases, U.K. retail sales remained flat in April, after rising 1.2 percent in March, figures from the Office for National Statistics showed.
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