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Europe: Shares hit two-week high on trade talk hopes
[MILAN] European shares hit two-week highs on Wednesday, led higher by materials stocks, while disappointing updates from staffing firm Adecco and home improvement retailer Kingfisher weighed.
The pan-European STOXX 600 rose 0.3 per cent by 0713 GMT with sentiment supported by hopes that the US and China will return to the negotiating table after the latest tariff round.
"Our base-case scenario sees both parties negotiating a settlement in the next 6–9 months," Credit Suisse strategists said in their daily note.
Basic materials were the biggest sectoral gainer, up 1.6 per cent, after copper prices rose sharply as investors shrugged off the risks of an escalation of the US-China trade row.