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European stock markets are rising this morning, amid hopes that China is relaxing some of its tariffs.
In London, the FTSE 100 index is up 12 points or 0.13%, at 8417 points. Engineering companies are among the top risers, with aerospare manufacturers Melrose up 3.6%, and Rolls-Royce up 2%, after Safran reported that tariffs on aircraft parts have been lifted.
“We learned last night that China has taken the decision not to tax engines or landing gear or nacelles - in other words a certain number of aerospace equipment parts.”
“It demonstrates that the situation is very fluid.”
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