Global Markets Lifted by Growing Trade Optimism

London, Nov 27 (AFP/APP): Most stock markets crept ahead Wednesday on rising expectations that China and the United States would reach an interim trade deal after President Donald Trump said the talks were “in the final throes”.

Observers said that while the broad consensus is that the two would wrap up something soon, there was an underlying unease at the lack of detail that prompted lingering uncertainty.

“Trade optimism has lifted stocks,” CMC Markets analyst David Madden said even as he urged caution. “Equity markets are posting gains, but the upside moves are not massive as dealers are mindful that things still could fall apart.”

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For Craig Erlam, senior market analyst at Oanda, “the sudden daily obsession with the trade war probably has a lot to do with the fact that there’s very little else to talk about at the moment, which doesn’t bode well for the rest of the year.

“The trade war has taken the place of the Fed in being what investors are hanging their hat on,” Erlam added as European stocks crept marginally ahead mid-session while the Dow marked time in early trading.

Trump said Tuesday: “We’re in the final throes of a very important deal, I guess you could say one of the most important deals in trade ever.”