European markets higher amid US-Sino trade talk plans; Investec shares jump

Market focus is largely attuned to global trade developments, amid expectations the U.S. and China could soon launch a fresh round of trade talks. The news of another potential meeting between Washington and Beijing comes amid an escalating trade war between the world’s two largest economies.

On Friday, Chinese officials welcomed a U.S. invitation for talks, less than 24 hours after President Donald Trump tweeted the U.S. was “under no pressure to make a deal with China.”

The Trump administration is preparing to impose charges on a final list of $200 billion worth in Chinese imports, with many market participants fearful that such a move could negatively impact global growth.

Back in Europe, Turkey’s central bank moved to support a tumbling lira on Thursday, lifting interest rates by 625 basis points to 24 percent. Currency crises in Turkey and Argentina have stoked fears of contagion in recent weeks, exacerbating broader negative sentiment in emerging markets.

Meanwhile, both the European Central Bank and Bank of England held interest rates steady on Thursday.

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