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On Wednesday, European stock markets went up, reacting positively to the statements of Chinese President Xi Jinping.
Speaking at the Boao Asian Forum, Xi Jinping promised to give foreign companies greater access to the financial and manufacturing sectors, to increase imports, and to improve the protection of intellectual property and also to provide a more transparent and manageable environment for foreign investment.
In addition, he talked about China's plans to diminish tariffs on imported cars and allow foreign car makers to own larger shares in the joint venture to produce cars in China.
In March, retail sales in the United Kingdom soared 1.4% in annual terms, which was the maximum growth since September. Analysts predicted an average decline of 0.3%.
The index of the major businesses of the region, Stoxx Europe 600, grew by 0.83% to 378.42, which is the highest level since March 16.
The British FTSE 100 rose 1%, reaching its highest level since February. French CAC 40 added 0.84%, German DAX surged 1.11%, which resulted in both indexes having completed the day at the highest levels since mid-March.
Thanks to positive news from China, mining stocks headed north, including Rio Tinto soaring 4.2%, BHP Billiton adding 3.5%, Glencore leaping 2,2% and Anglo American acquiring 5.1%.
Besides this, the market value of car makers increased, in particular German Volkswagen and Daimler - by 4% and 1.1%, respectively.
The price of Bayer AG securities tacked on by 3.2%. The US Department of Justice decided to approve the merger of the German chemical company Bayer with the American Monsanto Co, which is the world leader in plant biotechnology, after they pledged to sell a number of assets.
The soar in crude prices contributed to the surge of stock valuations of oil producers: Royal Dutch Shell - by 2.5% as well as BP by 2.9%.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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