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12/13/2019, 5:30 PM (Source: TeleTrader)
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Europe closes higher on US-China trade deal

Equities on major European markets finished trading on Friday with strong gains sparked by trade optimism. China and the United States managed to agree on the text of their phase one trade deal, while US President Donald Trump said that negotiations on the phase two trade deal with Beijing will begin "immediately."

Meanwhile, voters in the United Kingdom overwhelmingly supported the Conservative Party in the snap general election, handing the Tories their best election result since 1987.

The DAX jumped 0.46% at the end of trading as Volkswagen led the gains. The CAC 40 climbed 0.63% with Accor as the top performer. The FTSE 100 surged 1.10%; housebuilding company Taylor Wimpey rocketed over 14%. The euro was flat against the dollar at 5:45 pm CET buying 1.11314, while the pound soared 1.30% versus the US currency to 1.33406.

Breaking the News / JC