Global stocks rise on partial US-China trade deal, pound up

Sun Online Desk

12th October, 2019 11:07:08 printer


Global stocks rise on partial US-China trade deal, pound up

 

Global stocks rallied Friday as US-China trade negotiations yielded a partial deal, while the British pound surged for a second straight session on signs that London and Brussels could still avert a no-deal Brexit.

The US-China agreement, announced in the closing minutes of Friday’s Wall Street session, halts new US tariffs that were scheduled to go into effect next week and includes a Chinese promise to ramp up purchases of American farm products, reports AFP.

Expectations of the deal boosted stocks all day, but major US indices retreated from their peaks in the final moments of the session, ending with gains of a bit more than one percent.

 


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