European Stocks Trim Losses Amid Hopes for US-China Trade Thaw
European bourses pared losses on Friday, with the STOXX 50 and STOXX 600 finishing down 0.8% and 0.9%, after tumbling as much as 1.9% earlier in the session. Investor sentiment improved following President Trump’s remarks that high tariffs on Chinese goods are unlikely to remain long-term, hinting at a potential easing in US-China trade tensions ahead of his upcoming meeting with Chinese President Xi Jinping.
Bank shares, however, remained under pressure, led by Deutsche Bank (-5.9%), Societe Generale (-4.6%), BNP Paribas (-3.7%), Banco Santander (-3.2%), and UniCredit (-2.6%), as concerns about credit stress in US regional banks reignited fears of broader spillovers to the sector.
Rheinmetall also fell 6.5% amid China’s tighter export controls on military rare earths. On the earnings front, EssilorLuxottica jumped more than 12% after reporting record Q3 sales, while Volvo dropped 7% after citing “difficult market conditions in North and South America” that weighed on its performance.
Source: Trading Economi
