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European shares boosted by trade talks hope, but German growth worries mount

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European shares boosted by trade talks hope, but German growth worries mount

European shares boosted by trade talks hope, but German growth worries mount

European shares hit a three-week high on Tuesday as hopes of a possible trade deal between China and the U.S. offset worries over global growth.

But as David Pollard reports, worries about growth at home in Germany resurfaced as data showed November industrial output plunging.

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European shares boosted by trade talks hope, but German growth worries mount

The bulls shifted back into focus on Tuesday ..... As - after Monday's losses - Europe's shares hit a 3-week high on hopes of a breakthrough in US-China trade talks.

The focus of THOSE: Beijing, where negotiators left their hotel for a second day of discussions on how US imports tariffs on hundreds of billions of dollars of Chinese goods - and reciprocal tariffs by China - might be eased.

U.S. Commerce Secretary Wilbur Ross has predicted that Beijing and Washington can reach a trade deal that they "can live with".

(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Nothing is more important for German export-oriented shares than a solution to the trade dispute.

If there is a solution world economic peace is maintained.

If there is no solution there will be many more very depressed faces." Though - despite the lift in sentiment - those faces were in evidence on Tuesday.

As Germany digested yet more negative news on its - and the euro zone's largest - economy.

After data showing industrial orders slid by a per cent in November, more data shows actual output dropped by 1.9 per cent.

The hope now for markets: that global growth worries spread to the Fed - to prompt looser monetary policy.

(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The Federal Reserve has clearly stated that the best is over for the U.S. economy.

There is no recession but in order to prevent anything close to it I don't see the Fed raising interest rates again in 2019." In the meantime, officials in southern Germany declared a state of emergency on Monday amid heavy snowfalls.

Analysts say it could put another dent into output .... In an economy suffering not just an economic chill, but a real one.




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