European shares were slightly higher on Monday, building on solid gains in the previous session as investors clung to hopes that Washington and Beijing will make progress towards ending a prolonged trade spat that has roiled global markets.
Simmering tensions between the U.S. and China dented European shares on Monday as investors fled risk at the start of a highly uncertain week with Britain’s parliamentary vote on Brexit looming.
“I firmly believe with my head and my heart that this is a decision in the best interests of the entire United Kingdom”
German conservative Manfred Weber, who is running to take over the European Union’s top job next year, would focus more on investment, including in digital infrastructure, if he becomes European Commission President, he told German radio.
A report from the European Bank for Reconstruction and Development warned that perceived transparency in government policymaking in its 38 economy bloc had not improved since the start of the decade.
Prime Minister Theresa May said that there were still considerable unresolved issues with the European Union over Brexit as the two sides approached the “endgame” in negotiations for departure from the bloc.
The dollar traded slightly below a 16-month high versus a basket of peers, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown.
Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030 due to a drive to cut air pollution and the rise in liquefied natural gas (LNG) use, the International Energy Agency (IEA) said.
Asian shares skidded, pressured by a tech rout on Wall Street and a slump in oil prices, while political risks in Europe buoyed the dollar as investors dumped riskier assets.
EU's chief negotiator for the UK's withdrawal from the bloc said there was still no agreement on a Brexit deal.