World shares breathe easy as Trump pushes out tariff deadline

Credit: Reuters Studio
Published on February 25, 2019 - Duration: 01:22s

World shares breathe easy as Trump pushes out tariff deadline

Global shares saw an uptick on Monday on signs a resolution to the Sino-U.S. trade spat could be in sight, following Donald Trump's decision to delay further tariffs on Chinese goods due to 'productive' talks.

Francis Maguire reports.

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World shares breathe easy as Trump pushes out tariff deadline

Markets rose across Asia and Europe on Monday, After Donald Trump said he'd delay raising tariffs on Chinese imports.

The new duties on Chinese goods were planned for March 1, But Trump held off due to what he called 'productive' trade talks and meet China's President Xi to seal a deal if progress continued.

European stocks rose 0.4 percent following Trump's remarks - their highest since October, Led by the German DAX jumping half a percent.

(SOUNDBITE) (German) ICF BANK AUTHORISED SIGNATORY SECURITIES TRADING, ARTHUR BRUNNER, SAYING: "The DAX had a positive start going into the new week.

The main reason is Donald Trump extending the deadline for possible tariffs on Chinese goods.

Investors hope for a positive outcome and that's what will influence the course of this week." Europe's gains spilled over from Asia, Where shares hit a five-month peak on Monday Chinese shares surged - the Shanghai Composite rose 5.6 percent.

Japan's Nikkei also gained - and climbed to its highest since December.

U.S. shares also look poised to rise, With the Dow and Nasdaq well-positioned after nine weeks of gains.

A dovish shift from the Fed - setting aside rate hikes for now - has helped the mood.

Investors will next look to Fed Chairman Jerome Powell on Tuesday and Wednesday, When he testifies on U.S. monetary policy.

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