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European shares dip as trade-fueled rally loses steam

Published 08/11/2019, 09:14
Updated 08/11/2019, 09:18
© Reuters.  European shares dip as trade-fueled rally loses steam
STOXX
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SX6P
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SXKP
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SXPP
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Nov 8 (Reuters) - European shares opened lower on Friday,

halting a week-long rally after mixed signals on U.S.-China

trade left investors uncertain on whether the two sides are

really getting close to signing a deal.

The pan-European STOXX 600 index .STOXX fell 0.4% at 0807

GMT, but was still set to end its fifth straight week in the

black.

Tariff-hit miners .SXPP , among the most exposed to the

trade conflict and its implications for global growth, led

losses with a 1.3% fall. Defensive plays including telecoms

.SXKP and utilities .SX6P eked out small gains.

Global equity markets cheered news on Thursday that the

United States and China had agreed to roll back tariffs on each

others' goods in a "phase one" trade deal. Hopes were dampened, however, after Reuters reported that

the plan faced internal opposition in the White House.

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