European stocks hit record high despite coronavirus outbreak – as it happened

Photo of European stocks hit record high despite coronavirus outbreak – as it happened
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Rolling coverage of economics, markets and business as Chinese tariff cuts on US goods help to stimulate markets

And European shares follow their Asian counterparts in rising, setting a new record for the Euro Stoxx 600 index.

The index, which tracks the largest companies in the UK and European stock exchanges

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

China has said it would halve additional tariffs levied against 1,717 US goods last year, in a move that has boosted markets in Asia that have been under pressure since the start of the coronavirus outbreak.

Risk-on mood in global markets has stepped up a gear as worst of coronavirus fears seems being behind us. US politics, solid econ data & China tariff cuts announcement fire up mood. Global stocks now back within 1% of ATH. Bonds lower w/US 10y at 1.66%. Gold 1558, Bitcoin $9.7k. pic.twitter.com/Eyn5VbwK1u

It shouldn’t be surprising news as this comes after both nations had agreed in Phase 1 negotiations that they would reduce tariffs on each other’s goods as part of the deal

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