Global shares up on optimism over more U.S.-China trade talks

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Global shares mostly rose Friday as investors cheered plans for more trade negotiations between Washington and Beijing and drew encouragement from positive U.S. economic data.

France's CAC 40 was little changed at 5,590.94, while Germany's DAX was up 0.1% at 12,144.24 in early trading. Britain's FTSE 100 slipped 0.2% to 7,260.18. U.S. shares were set to drift higher with Dow futures up 0.3% at 26,776. S&P 500 futures were also up 0.3% at 2,979.30.

"As limited progress is expected, there will still be many twists and turns along the way and hurdle for more good news is substantially higher. Therefore, we think the rally could be short-lived without more breakthroughs." Investors have been worried that uncertainty over the conflict and the fallout from tariffs goods imposed by both sides will exacerbate a slowdown in global economic growth and hurt corporate profits.

U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on Oct. 1.

 

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