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European shares edge higher in cautious trading

The pan-European STOXX 600 rose 0.4 per cent by 0820 GMT.

Reuters|
Updated: Nov 19, 2019, 02.25 PM IST
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European shares
The Trump administration on Monday issued a new 90-day extension allowing US companies to continue doing business with China's Huawei Technologies Co Ltd.
European shares edged higher on Tuesday after signs of reprieve for China's Huawei from further US sanctions, although trading was range bound as investors waited to see if the United States and China could reach a preliminary trade deal.

The pan-European STOXX 600 rose 0.4 per cent by 0820 GMT, with London-listed shares leading gains after multiple positive corporate updates.

The Trump administration on Monday issued a new 90-day extension allowing US companies to continue doing business with China's Huawei Technologies Co Ltd.

However, uncertainty over the trade deal held back investors from making big bets after the CNBC reported overnight that the mood in Beijing was pessimistic about prospects of sealing an agreement.

In corporate M&A, shares in Germany's TLG Immobilien rose 2.6 per cent after announcing an all-stock merger with fellow real estate firm Aroundtown SA.

Automakers rebounded from their worst session in six weeks as data showed passenger car registrations in Europe rose to their highest since 2009 in October, driven by robust demand in Germany and France, and a rebound in demand for Volkswagen .

Volkswagen shares rose 0.9 per cent.

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