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European Shares Rebound On Trade Talk Hopes


European stocks were moving higher on Tuesday, even as the underlying tone remained cautious amid Brexit uncertainty and concerns over violent protests in France.

Investors cheered progress in trade talks after reports suggested that Chinese Vice Premier Liu, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer have discussed trade issues despite a diplomatic row over the arrest of a senior Chinese businesswoman.

Meanwhile, after calling off a crunch House of Commons vote, U.K.Prime Minister Theresa May will now meet European leaders and EU officials in the hope of clinching a better Brexit deal.

The pan-European Stoxx Europe 600 index was up 0.8 percent at 341.76 in opening deals after tumbling 1.9 percent in the previous session to hit a fresh two-year low.

The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up between half a percent and 0.7 percent.

Mining shares were moving higher, with Anglo American, Antofagasta and Glencore climbing 1-2 percent.

British advertising giant WPP Group jumped 4 percent after it set out a new three-year plan to return the business to growth.

Ashtead Group rallied 3.4 percent. The industrial equipment rental company said it expects annual results to be ahead of prior expectations.

Carpetright soared 8.4 percent. After reporting a wider first-half loss, the carpet and floor coverings retailer said that it was making progress on its turnaround plan.

Outsourcing firm Interserve dropped more than 2 percent on saying it was in rescue talks.

Daimler rose half a percent. The German luxury carmaker said it would buy battery cells worth more than 20 billion euros by 2030 as part of efforts to push forward with the transformation into the electric future of the company.

Copper producer Aurubis also gained slightly after unveiling its financial results for fiscal year 2017/18.

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