European Equities Higher on Trade War Optimism
European equities trading sharply higher on Monday amid renewed optimism after China – US trade truce agreed in Osaka, Japan. As of writing the DAX 30 is up 1.31 percent at 12,560 the CAC 40 in Paris is adding 0.80 percent at 5,583, in London the FTSE 100 is 1.14 percent higher at 7,510. The unemployment rate in the common market dropped to 7.5% in May versus 7.6% expected and 7.6% last reading. Earlier today the European PMI’s came in worst than expected and pushed down the Euro against the greenback. Jeremy Hunt, a Tory leadership candidate says he would decide by September 30, if Brexit deal is possible. EU faces another problem today as in the leader’s summit can’t decide about the top positions in Commision, the European Council and the European Parliament.
In Wall Street, the futures also trading higher, signaling a positive start for equities in the other side of the Atlantic. USA companies will resume sales to Huawei the China’s largest telecommunications equipment maker. Later today, the survey of the Institute of Supply Management will give a clue about the business conditions and will drive the markets.Don’t miss a beat! Follow us on Twitter.