European stocks seen sharply higher after US-China trade truce

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European stocks seen sharply higher after US-China trade truce
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European markets are expected to surge at Monday's open after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on additional tariffs in a bid to reignite trade talks.

European Markets: FTSE, GDAXI, FCHI, IBEX

Following a meeting on the sidelines of the Group of Twenty summit over the weekend, President Trump and President Xi confirmed that they do not intend to levy any new tariffs against each other's products at present, while Trump suggested a reversal of his administration's decision to ban American companies from selling products to Chinese telecommunications giant Huawei.as investors reacted to the weekend's news.

Back in Europe, an emergency European Union summit to decide top jobs at the bloc ran into trouble again, after a deal hatched by several European leaders to appoint former Dutch foreign minister Frans Timmermans as president of the European Commission was rejected by center-right and eastern European leaders.comes into force Monday, following the collapse of political treaty talks between Switzerland and the EU.

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