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European stocks rally on US-China trade truce

Dec 03 2018 11:39

London - Europe's major stock markets surged at the start of trading on Monday after China and the United States clinched a trade war truce.

In initial deals, London's FTSE 100 index jumped 1.5% to 7 087.36 points.

In the eurozone, Frankfurt's DAX 30 soared almost 2.5% to 11 534.75 points and the Paris CAC 40 rose 2.2% to 5 112.58.

US President Donald Trump and his Chinese counterpart Xi Jinping agreed in a meeting at the G20 on Saturday to suspend any new tariffs in the trade war between the world's two largest economies pending talks to resolve their differences.

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