Europe Markets: European stock markets maintain strong November start

European stocks made gains early Friday, continuing a strong start to November, after signs of easing global trade tensions, especially between the U.S. and China.

How are markets performing?

The Stoxx Europe 600

SXXP, +1.02%

was recently up 0.9% to 366.25, building on gains Thursday.

Germany’s DAX 30

DAX, +1.47%

  was 1.15% higher at 11,601.17, while France’s CAC 40

PX1, +1.34%

was up 1.2% at 5,146.67. The U.K.’s FTSE 100

UKX, +0.75%

 was up 0.76% to 7,166.22.

The euro

EURUSD, +0.3506%

 traded at $1.1428 and the pound

GBPUSD, +0.1846%

was trading at $1.3024.

What’s driving the market?

A phone call between President Trump and Chinese leader Xi Jinping. Trump tweeted that he had a “long and very good conversation” with his Chinese counterpart, leading to hopes of an agreement between the two countries on trade.

What stocks are active?

Shares of Asia-focused bank Standard Chartered

AMSYF, -5.98%

were recently up 4.2%. Luxury goods companies were also making gains. Kering

AMSYF, -5.98%

was recently up 6.1%, while Burberry

AMSYF, -5.98%

was up 3.3%.

Ford Motor Co.

F, -2.72%

  and Volkswagen AG

VOW, +4.27%

  are in talks to create a joint self-driving car venture, people familiar with the matter told the Wall Street Journal, aligning two of the world’s largest auto makers in the industry’s race to reshape the future of transportation as they look to challenge the likes of Tesla

TSLA, +2.06%

 and Alphabet’s Waymo

GOOGL, -0.42%


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