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European equities rose at the open, reversing some of their recent sharp losses, as markets awaited the next development in the trade dispute between the U.S. and China, whose central bank called for investors to remain calm.
The Stoxx Europe 600 Index gained 0.6 percent, after falling 0.7 percent on Tuesday following the U.S. administration’s threat to impose additional tariffs on Chinese goods. China’s central bank Governor, Yi Gang, pledged late Tuesday to use monetary policy “comprehensively” and said policy makers are prepared for outside shocks.
All of the 19 Stoxx 600 sectors rose on Wednesday, led by basic resources which was the largest decliner the day before. The S&P 500 Index slipped 0.4 percent in New York Tuesday.