European stocks opened higher on Wednesday, recovering some of the losses made in the previous session when U.S. President Donald Trump surprised world markets by saying a trade deal with China could wait until after the 2020 presidential election.
U.S. stocks sold off for a third consecutive session overnight, while Asian shares extended losses as hopes for a quick preliminary agreement between the world’s two biggest economies were dashed.
The pan-European equity index STOXX 600 , which had slumped 2.2% since the beginning of the month, rose 0.4% but futures markets were still pointing to a slightly negative open on Wall Street.
In currency markets, the euro was flat against the dollar at 1.1081. The Japanese yen and Swiss franc, seen as safe havens stood during market storms were making gains, up 0.17% and 0.13% respectively.
Brent crude LCOc1 futures were up 0.58% at $61.17 a barrel while U.S. West Texas Intermediate crude CLc1 gained 0.52% to $56.39 per barrel.