European shares are closing higher, in response to discussions between the US and China

The prospect of resolving trade strains between the United States and China encouraged Europe stock exchanges to close the trading session on Monday, although concerns about Turkey and Italy are still on the radar. The pan-European index of Stoxx-600 posted a gain of 0.65% to 383.45 points.

The negotiations between Washington and Beijing are expected to take place on Wednesday and a meeting between Presidents Donald Trump and Xi Jinping is expected in November.

The Frankfurt Stock Exchange (DAX) index rose by 0.99 percent at 12,331.30 points, CAC 40 in Paris, which rose 0.65 percent at 5,379.65 points and Ibex 35, of the Madrid Stock Exchange, which was 0, 54% rose to 9,468.60 points.

The London FTSE 100 index rose by 0.43% to 7.591,26 points, while the FTSE MIB in Milan rose by 0.27% to 20,470.97 points and Lisbon rose 0.32% to 5,478.78 points.

Investors continue to follow the financial tensions in Turkey and exchange trade disputes with the US. On Monday, Ankara filed a complaint with the World Trade Organization (WTO) against the additional tariffs imposed on its steel and aluminum by Washington after Turkish President Recep Tayyip Erdogan promised to fight "economic strikes".

The credit note of the country was lowered on Friday by rating agencies Moody & # 39; s and S & P.

BMO Capital Markets analysts are of the opinion that "the polution of contagion problems with emerging markets" may not have become too bad "and has thus made possible a measure of valuation of global equities." On the other hand, with the pressure on the Turkish banking system amid financial instability and the depreciation of the lira against the dollar, "the risk of a more serious crisis is still present," says the British consultancy firm Capital Economics.

On Italian soil, it is still waiting for the budget to be adopted for the next fiscal year, which may be higher than the estimated expenditure and is in breach of the European Union (EU) standard.

Giancarlo Giorgetti, the undersecretary of the cabinet of the Italian government, asked the European Central Bank (ECB) on Monday to withdraw the stimulus more slowly. The request is again a sign of Rome's concern about rising interest rates on the country's debt after the bank stops buying government debt.

One day with few indicators the German producer price index (PPI) was released, which rose by 0.2% from June to July and rose by 3% compared to a year earlier.

About us

Source link

Leave a Reply