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1/16, 7:30 AM (Source: TeleTrader)
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Europe rises premarket following US-China deal signing

Stocks on European markets traded higher in premarket on Thursday after the United and China sealed the so-called phase one trade deal in Washington. Beijing reportedly agreed to give up the retaliation option in case the US reimpose tariffs on Chinese goods, but it kept the possibility of leaving the deal entirely if it faces new economic pressure. Meanwhile, US Vice President Mike Pence stated that the two sides "have already begun discussions on a Phase 2 deal."

On the other hand, Washington threatened the European Union with imposing new tariffs on car imports if the bloc fails to condemn Iran's alleged violations of the nuclear deal.

The DAX gained 0.11% at 7:30 am CET while the FTSE 100 increased 0.05% at the same time. The CAC 40 in Paris added 0.06% at 7:25 am CET.

The euro traded 0.05% lower, going for $1.11466 at 7:30 am CET.

Breaking the News / GA