European shares rebound at open

Published: November 28, 2018 14:59:24 | Updated: November 29, 2018 16:14:52

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European shares rebounded at the open on Wednesday as the trade war fears eased on the prospect of a meeting between the US and Chinese presidents at a G20 meeting in Argentina.

The pan-European STOXX 600 benchmark rose 0.4 per cent by 0814 with most major bourses trading comfortably in positive territory, reports Reuters.

Caution was nevertheless palpable on the trade front with the European automotive sector down about one percent after a German press report on Tuesday mentioned possible new US tariffs on imported cars.

Milan was one exception with shares in steel firms Tenaris dropping 9.0 per cent.

The fall, which comes as the CEO of Techint, the parent company of Tenaris, was charged by an Argentine federal judge, weighed on the FTSE MIB which was flat.

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