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European shares edge higher in cautious trading

Published 11/19/2019, 04:38 PM
Updated 11/19/2019, 04:40 PM
European shares edge higher in cautious trading

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Nov 19 (Reuters) - European shares edged higher on Tuesday
after signs of reprieve for China's Huawei from further U.S.
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 .STOXX rose 0.4% by 0820 GMT,
with London-listed shares .FTSE leading gains after multiple
positive corporate updates.
The Trump administration on Monday issued a new 90-day
extension allowing U.S. companies to continue doing business
with China's Huawei Technologies Co Ltd HWT.UL .
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
TLGG.DE rose 2.6% after announcing an all-stock merger with
fellow real estate firm Aroundtown SA AT1.DE . Automakers .SXAP 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
VOWG_p.DE . Volkswagen shares rose 0.9%.

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