March 14, 2019 / 10:34 AM / 7 months ago

European stocks and China's yuan hit by report of delay in China-U.S. trade summit

LONDON, March 14 (Reuters) - European stocks stumbled on Thursday after a Bloomberg report said China and the United States are likely to push back a meeting between Presidents Donald Trump and Xi Jinping to end a prolonged spat over trade to April at the earliest.

At 1025 GMT, the pan-European STOXX 600 was up 0.5 percent, off its earlier highs, while Frankfurt’s DAX, which is sensitive to U.S.-China trade, erased gains and was flat.

About 6 percent of DAX constituents’ revenues originate from China.

The offshore-traded Chinese yuan fell to a one-week low of 6.7353, down half a percent on the day against the dollar.

The report cited three people familiar with the matter saying the hoped-for summit at Trump’s Mar-a-Lago resort will now take place at the end of April if it happens at all. (Reporting by Josephine Mason, Helen Reid and Sujata Rao, Editing by Helen Reid)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below