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European stocks rattled by trade fears as G7 optimism fades — live updates

European stocks rattled by trade fears as G7 optimism fades — live updates

5) The French media giant Vivendi has launched a legal challenge in Italy in a bid to stop the billionaire Berlusconi dynasty creating a pan-European television empire. Vivendi owns a 29pc stake in Mediaset, the Berlusconi-controlled broadcaster, but is barred by Italian regulators from voting on plans to merge it with its Spanish sister company. What happened

5) The French media giant Vivendi has launched a legal challenge in Italy in a bid to stop the billionaire Berlusconi dynasty creating a pan-European television empire. Vivendi owns a 29pc stake in Mediaset, the Berlusconi-controlled broadcaster, but is barred by Italian regulators from voting on plans to merge it with its Spanish sister company.

What happened overnight

Asian markets also danced to Mr Trump’s tune as losses inflicted by trade war tensions on Monday were partially recouped after sunnier language from the president. Having described his Chinese opposite number Xi Jinping as the “enemy” on Friday, Mr Trump called him a “great leader” four times and claimed Chinese officials had phoned the White House looking to resume negotiations (although China did not confirm the phone calls).

“Sorry!” Mr Trump told reporters at the G7 Summit. “It’s the way I negotiate.”

Accordingly, the Nikkei climbed 1pc, led by Subaru and tyre makers — Mr Trump also said he was no longer considering tariffs on Japanese cars. Australia’s S&P ASX 200 index went up by 0.5pc, after giving up 1.3pc on Monday; the Shanghai Composite added 1.4pc; while indexes in South Korea, Taiwan and Singapore made modest gains. Hong Kong’s Hang Seng Index is down 0.3pc amid fears of further chaos on the streets.

The dollar index also rose a small amount, while Brent Crude went up by 0.4pc and US crude by 0.6pc after both fell 1pc. On the other hand, gold prices held steady after Monday’s surge, and the yen, which is often bought in times of economic uncertainty, gained in value. 

Coming up today

Interim results: Bunzl, Polymetal, Raven Property 

Economics: UK finance loans for housing, consumer confidence (US)





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