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European Shares Inch Higher Ahead Of US Inflation Report
(RTTNews) - European shares edged higher in cautious trade on Wednesday as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction.
After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
If approved, the deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
The pan European STOXX 600 was up 0.2 percent at 553.97 after finishing marginally lower on Tuesday.
The German DAX edged up by 0.3 percent, France's CAC 40 added 0.4 percent and the U.K.'s FTSE 100 was up 0.2 percent.
British homebuilder shares were rallying ahead of a public spending announcement from the U.K. finance minister.
Ibstock shares plummeted nearly 14 percent. The building materials manufacturer has warned of margins pressure despite reporting higher first-half sales.
Zara owner Inditex tumbled 4.3 percent after first-quarter sales came in below expectations.
Ricardo soared 25 percent after the engineering group agreed to a £281 million takeover by Canadian consultancy WSP Global.
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