Visitors look at a display of smartphones from Chinese technology firm Huawei at the Consumer Electronics Show in Shanghai on Tuesday. Associated Press
World shares rallied on Tuesday to hold near one-month highs, with German carmakers outperforming and Wall Street looking to extend gains after the United States stepped back from imposing tariffs on Mexico.
President Donald Trump on Friday announced a deal to lift US tariffs on steel and aluminium imports from Canada and Mexico that had created friction between the neighbors and blocked a new North American free trade agreement.
Amid rising fears over US-Chinese trade tensions and mounting tariffs, President Donald Trump has said that firms could easily avoid additional costs by producing goods in the United States.
London's benchmark FTSE 100 index was up 1.0 per cent, in the eurozone, Frankfurt won 0.9 per cent and Paris climbed 0.8 per cent.
Spot gold was up 0.8% at $2,033.86 per ounce by 0655 GMT, after hitting a record high of $2,036.49. US gold futures rose 1.4% to $2,049.30.
The benchmark Nikkei 225 index slipped 0.26 per cent, or 58.81 points, to end at 22,514.85, while the broader Topix index inched down 0.04 per cent, or 0.55 points, to 1,554.71.
Brent crude was up by 31 cents, or 0.7%, at $44.74 a barrel by 0713 GMT. The contract rose 0.6% on Wednesday to its highest close since March 6. West Texas Intermediate oil was up by 26 cents, or 0.6%, at $41.96 a barrel. The contract ended Tuesday trading 1.7% higher, its highest close since late July.