Asian stocks tumble on fresh US-China trade spat; Chinese exports beat forecasts – business live

European shares and US stock futures lifted by Taco trade after Donald Trump’s more conciliatory tone in social media postVictoria Scholar, head of investment at the trading platform interactive investor, has looked at the moves in markets this morning.The FTSE 100 has opened higher, although it is logging more modest gains than the DAX and CAC 40. Defence stocks are under pressure with Babcock, BAE Systems and Rolls-Royce at the bottom of the UK basket. Fresnillo is the top gainer on the FTSE 100 after a short squeeze for silver.In France, Sébastien Lecornu announced a new cabinet on Sunday after his reappointment as prime minister last week, helping to at least temporarily avoid a full-blown political crisis in Paris.The flight to safety trade has continued to propel gold and silver, fuelled by Trump’s unpredictability with the threat of fresh tariffs on China that raises concerns about an escalating trade war between the two superpowers. The developments sparked a heavy sell-off on Wall Street driven by tech stocks, with investors buying gold and silver instead.Uncertainty has also weighed on the US dollar this year, with greenback weakness further underpinning gains for gold and silver. Central bank buying and Fed rate cuts have provided further tailwinds for gold. Silver has also been subject to a short squeeze, extending this year’s rally. Then the US government shutdown provides further uncertainty pushing up demand for safety assets. And there’s a feeling that many investors, unsure where to put there money, have been watching gold’s appreciation and have hopped on the bandwagon hoping not to miss out on the latest exciting investment idea. Continue reading...

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