EUROPEAN SHARES AT 4-YEAR HIGH FROM SINO-US TRADE OPTIMISM

NOV. 7- European shares hit four-year high last Thursday following China’s statement that Beijing and Washington will pull out tariff implementation in different phases.

Both countries must pull out the implementation of tariffs on each other’s goods in order to come up with the possibility of “phase one” trade pact, said Gao Feng, spokesman of the commerce ministry.

The pan-European STOXX 600 index inched higher at 0.4% by 0813 GMT as export-heavy Germany boosted the rise with 0.7%

Automakers and miners were the highest earners among the European sub-sectors all while telecom and utilities sectors were recorded to be the biggest decliners.

Siemens acquired 3.4% and is considered the biggest contributor to the STOXX 600 following a better-than-expected performance of its fourth quarter session.