Europe open: Shares jump on US-China tariff truce

(Sharecast News) - European shares were higher at the open on Tuesday after the US and China extended their tariff truce by another three months and traders eyed US inflation data later in the day. The pan-regional Stoxx 600 index was up 0.34% in early deals at 548.52, with all major bourses following suit. Germany's DAX rose 0.02% and France's CAC 40 gained 0.51%.

US President Donald Trump, who is waging a global trade war, and China's commerce ministry both announced the truce extension until November as they seek to avert a damaging economic conflict.

The US authoritarian and his Chinese counterpart Xi Jinping are scheduled to meet later this year.

In equity news, Spirax Group surged 18%, after the company's first-half results beat expectations.

Tecan jumped as the Swiss lab instrument market also posted results.

Vestas Wind Systems gained after winning new US orders, while Sartorius rose 3.6% after broker Jefferies upgraded the pharmaceutical equipment supplier's rating to 'buy" from 'hold'.

Reporting by Frank Prenesti for Sharecast.com