LIVE MARKETS-US-China deal lifts miners, autos, luxury; drags defence
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US-CHINA DEAL LIFTS MINERS, AUTOS, LUXURY; DRAGS DEFENCE
Price action in Europe on Monday was all about the U.S.-China deal to slash reciprocal tariffs, announced shortly after the opening bell, easing trade war jitters and lifting global market confidence.
China-exposed plays from miners .SXPP, to autos .SXAP and luxury .STXLUXP were leading the charge higher, and so were chip stocks, as investors rotated out of recent winners such as arms makers .SXPARO and defensive stocks.
Pharma .SXDP was a weak spot too as traders fretted about drug price cuts in the United States.
The DAX .GDAXI in Frankfurt surged to a new lifetime peak before paring part of the gains, while the broader STOXX 600 .STOXX was last up 0.5%, also off an earlier high.
(Danilo Masoni)
EARLIER LIVE MARKET POSTS:
BEFORE THE BELL: EUROPEAN FUTURES RALLY, PHARMA DOWN CLICK HERE
THE DEVIL'S IN THE LACK OF DETAIL CLICK HERE
Where experts think the Fed is headed https://reut.rs/4kbVlaD
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