Mon. Sep 28th, 2020

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European stocks are now stable and trading higher

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European stocks traded higher Tuesday morning as investors shifted their focus to upcoming central bank meetings by the U.S. Federal Reserve, Bank of Japan and Bank of England.

The pan-European Stoxx 600 added 0.5% by mid-morning following a muted open, with retail stocks adding 1.6% to lead gains while financial services edged 0.2% lower.

Investors in Europe are looking ahead to the results of the latest U.S. Federal Reserve meeting taking place Tuesday-Wednesday, although the central bank is not expected to make any changes to its monetary policy stance and reacting to the latest data from China.

Meanwhile, stocks in Asia-Pcific were mostly higher after data showed retail sales in China rose 0.5% in August from a year ago — the first positive report for the year so far — according to the country’s National Bureau of Statistics. Still, retail sales for the first eight months of the year were down 8.6% from a year ago, the bureau said.

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