Global stocks advance after Trump holds back on China retaliation

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Global stocks rose and the dollar weakened, after US president Donald Trump’s latest escalation of his dispute with China stopped short of traders’ worst fears.

European markets gained, with the composite Stoxx 600 up 0.8 per cent at midday on Monday. London’s benchmark FTSE 100 and the CAC 40 in Paris added just over 1.2 per cent each. The moves take the Stoxx Europe 600, which lists the region’s largest companies, within sight of three-month highs. Germany was closed for a public holiday.

Bullish investors in US markets appeared willing to look beyond some of the biggest civil disturbances in the country in decades. Nasdaq postponed reopening its options trading floor in Philadelphia, which was closed because of the coronavirus pandemic, owing to the protests.

In early trading the Nasdaq rose 0.5 per cent although the S&P 500 was down 0.3 per cent.

Late on Friday Mr Trump said he would revoke

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