Europe midday: Stocks hold higher helped by some positive news on trade, Covid-19
Stocks across the Continent are holding higher, after having wobbled at the start of trading following the Trump administration's move to close possible loopholes on its curbs against Chinese technology Huawei.
On a more positive note, also overnight the US President reportedly praised recent agricultural goods purchases by China, even as he told broadcaster Fox in an interview that he was having a "very hard time" with Beijing and US trade advisor Peter told CNBC that the phase one trade deal was still on track.
In the background however, the news-flow around the pandemic remained rather downbeat, although there was at least one small positive to be had, in Spain.
Despite that, and nderscoring the mood in financial markets, Bank of America's monthly fund manager survey revealed that fund managers around the world were at their most 'bullish' in August since February 2020.
"We do not think positioning is dangerously bullish; FMS cash levels down to 4.6% but in neutral range (<4% = greed, >5% = fear); BofA Bull & Bear Indicator up to 3.7, far from excess bullish," they said in a research note sent to clients.
"We say “peak Policy” theme to cause Sept volatility (after passage of Phase IV fiscal stimulus); but disorderly drop in credit & stocks still requires disorderly rise in rates."
As of 1305 BST, the pan-European Stoxx 600 was up 0.18% at 369.94, alongside a 0.60% rise for the Dax to 12,997.5.
Pacing gains on the Stoxx 600 was stock in Persimmon after the UK homebuilder reinstated a "modest" dividend and held out the possibility of more to come.
Shares of EasyJet, Deutsche Lufthansa, TUI AG and RyanAir Holdings were all close behind on the leaderboard.
The FTSE Mibtel meanwhile was ahead by 0.62% to 20,073.87 and the Cac-40 by 0.22% to 4,982.93.
Travel&Leisure issues were higher as well as group, pacing the advance throughout much of the morning, with the corresponding Stoxx 600 sector gauge up 0.85% to 174.47.
On the pandemic front, Germany reported the highest number of cases for four months, but in Catalonia, in Spain's northeast, the daily case count nearly halved on Wednesday.