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Europe: Trade detente hopes turbocharge European shares
[LONDON] European shares surged on Tuesday after incipient signs of a detente in trade rhetoric between Washington and Beijing, while French supermarket Casino stole the limelight after sealing a partnership with Amazon.
Casino jumped 7.8 per cent to lead Europe's STOXX 600 after its grocery chain Monoprix said it would start selling its products to Parisian customers through Amazon's Prime Now service this year.
The STOXX 600 index gained 1.4 per cent, on track for its best day in seven weeks, while Germany's DAX led the pack with a 1.8 per cent rise.
European markets took their cue from a robust rebound on Wall Street and Asian stocks after reports the US and China were negotiating to avert a trade war which had sent stocks spiraling over the past weeks.