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European Shares Rally On Trade Deal Hopes

stockmarkets jan11 11oct19 lt

European stocks advanced on Friday to extend gains from the previous session as Brexit worries eased and optimism prevailed for some sort of a partial trade deal between the United States and China.

The pan European Stoxx 600 was up as much as 1.2 percent at 387.37 after rising 0.7 percent in the previous session. The German DAX was up 1.8 percent while France's CAC 40 index was gaining 1.2 percent.

The U.K.'s FTSE 100 was little changed as a firm sterling pulled down shares of export-reliant companies.

German luxury fashion brand Hugo Boss slumped 13.7 percent after cutting its 2019 sales outlook again.

Software group SAP soared 7.5 percent after its long-term CEO stepped down.

France's Renault rallied 3.2 percent ahead of an expected vote on whether to remove Chief Executive Thierry Bolloré amid concerns over the company's performance and its tense relationship with Nissan Motor Co.

Vinci advanced 1.5 percent after its third-quarter passenger numbers across all VINCI Airports facilities grew 6.9 percent from last year to 72 million passengers.

Man Group lost 2.7 percent after its third-quarter funds under management declined to $112.7 billion from $114.1 billion last year.

In economic releases, Germany's consumer price inflation slowed as initially estimated in September to the lowest since early 2018, final data from Destatis showed.

Consumer price inflation slowed to 1.2 percent in September from 1.4 percent in August. This was the lowest rate since February 2018, when the rate was 1.1 percent.

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