People visit a Huawei booth at an exhibition during the World Intelligence Congress in Tianjin, China, on Thursday. Reuters
European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China’s Huawei Technologies offset a slightly more positive tone on trade.
Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. In Europe, the broader Euro STOXX 600 climbed 0.6%,
Investors took a huge sigh of relief on Friday due to positive developments across the globe on Friday. Markets have swiftly reversed the sharp falls seen at the start of the week.
European and US stocks and oil prices recovered on Friday on US stimulus hopes, after Asian equities experienced wild swings, with traders closing out a week of carnage for world markets as the coronavirus pandemic fuels fears of a global recession.
Spot gold was up 0.1% at $1,777.30 per ounce by 0949 GMT. U.S. gold futures fell 0.3% to $1,784.30 per ounce.
Markets rose last week after unexpectedly strong U.S. jobs data despite some American states reporting record new coronavirus infections.
The San Francisco-based rideshare giant has been badly affected by the coronavirus pandemic -- cutting a quarter of its global workforce in May -- and has been looking to boost its growing food delivery service Uber Eats.