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According to Danske Bank analysts, market sentiment has been supported by news of a  US-China phone call on trade  between  Liu He, China’s top negotiator on trade,  US trade representative Lighthizer and US treasury secretary Mnuchin this morning.

Key Quotes

“Information on the call is sparse but according to the Chinese side the parties  ‘reached consensus on properly resolving relevant issues  ‘. Admittedly, that sounds rather vague but for now it seems no news of escalation amid Hong Kong concerns is good news.”

“As we approach 15 December when US tariffs are set to rise by 15% on USD160bn worth of Chinese goods, markets will need more concrete good news. For now that seems like the important date to keep in mind.”