EUROPE MARKETS: European Stocks Nudge Higher On Barnier's Brexit Optimism
15 October 2019 - 9:08PM
Dow Jones News
By Steve Goldstein, MarketWatch
European stocks on Tuesday advanced on optimism over the
possibility of a deal for an agreed Brexit pact.
After losing 0.49% on Monday, the Stoxx Europe 600 rose 0.29% to
390.82.
The German DAX increased 0.26% to 12519.07, the French CAC 40
added 0.34% to 5662.47 while the U.K. FTSE 100 fell 0.32% to
7190.58.
U.K. banks switched directions for a third straight session,
this time rising, as they trade on the relative prospects of an
agreed deal for Britain to exit the European Union. Lloyds Banking
Group (LLOY.LN) and the Royal Bank of Scotland (RBS.LN) rose as
Michel Barnier, the top EU negotiator, said a deal was possible
this week. The pound retook the $1.26 level.
Tuesday's session also will feature results from U.S. banks as
well as the International Monetary Fund's latest economic forecast.
St. Louis Fed President James Bullard, in a speech in London, made
a case for more rate cuts, that act as insurance, as he said the
U.S. central bank will make rate decisions on a meeting-by-meeting
basis.
The ZEW Indicator of Economic Sentiment for Germany meanwhile
fell 0.3 points in October to minus 22.8 points.
Wirecard (WDI.XE) shares lost a fifth of their value as the
Financial Times reported that internal documents appeared to show
the company was trying to inflate profit and revenue at an Irish
and Dubai subsidiary. Wirecard didn't comment on the report.
(END) Dow Jones Newswires
October 15, 2019 05:53 ET (09:53 GMT)
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