Europe open: Stoxx rises on signs of easing US-China trade tensions
By Frank Prenesti
Date: Friday 02 May 2025
(Sharecast News) - European stocks made a strong start on Friday after China indicated it wanted to start trade talks with US over tariffs.
The Stoxx 600 index resumed trading after the International Workers Day holiday on Thursday, rising 0.93% in early deals.
A social media account affiliated with Chinese state media stated that the US has approached China seeking talks over Donald Trump's 145% tariffs. Beijing said it was "evaluating" the move.
The report comes after US President Donald Trump ended the $800 tax-free import exemption on Chinese goods, hitting a huge consumer market for products from companies such as Shein.
In economic news, eurozone inflation remained unchanged last month, missing forecasts of a fall to 2.1%, according to flash estimates.
"European markets are following their Asian counterparts higher as optimism over a potential breakthrough in trade talks between the US and China lift risk assets across the board," said Scope Markets analyst Joshua Mahony.
"After Trump's attempts to play hardball with China through the imposition of 145% tariffs, we are now seeing the US reach out to find a resolution that many hope will ultimately bring a reduction in import taxes in the face of a US Q2 recession."
In equity news, shares in energy giant Shell shares rose after a first-quarter profit beat and announcement of its latest $3.5bn share buyback.
Danske Bank rose as Denmark's biggest lender held its 2025 profit outlook after posting better-than-expected first-quarter profits.
Reporting by Frank Prenesti for Sharecast.com
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