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Europe: Shares in tentative rebound as trade angst eases
[LONDON] European shares rebounded at the open on Wednesday as the trade war fears which had pushed indexes in the red during the previous session eased on the prospect of a meeting between the US and Chinese presidents at a G20 meeting in Argentina.
The pan-European STOXX 600 benchmark was up 0.4 per cent by 0814 with most major bourses trading comfortably in positive territory.
Caution was nevertheless palpable on the trade front with the European automotive sector down about one per cent after a German press report on Tuesday mentioned possible new US tariffs on imported cars.
Milan was one exception with shares in steel firms Tenaris dropping 9 per cent.
The fall, which comes as the CEO of Techint, the parent company of Tenaris, was charged by an Argentine federal judge, weighed on the FTSE MIB which was flat.