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Stocks open in Europe as fears of trade war fade

2018-09-21 07:59 am | Resource: News | No Views : 242

European markets opened in the green zone on Friday, taking advantage of Wall Street's positive sentiment as investors shrugged off concerns over US-China trade tensions over import tariffs.

In the United States, the Dow Jones Industrial Average and the S & P 500 recorded the highest closing levels in the previous session.

On the data front, traders are waiting for initial PMI figures from the Eurozone and Germany.

Netherlands GDP growth for the second quarter

 Dutch economic growth accelerated more than initially estimated in the three months to June, final data from the Central Bureau of Statistics showed on Friday. GDP expanded 0.8 percent sequentially, instead of the previously estimated 0.7 percent. It was also faster than the 0.6 percent growth it had recorded in a quarter of a year.

The improvement was driven largely by foreign trade, investment and household consumption. On an annualized basis, GDP growth accelerated to 3.1 percent from 2.8 percent in the first quarter. Initially, the statistical office estimated an expansion of 2.9% for the second quarter.

European stocks open
  • The FTSE 100 rose 0.50% at 9:01 CET. Mining led gains, with the Glencore index up 2.50% at 9:03 am and Rio Tinto up 2.06% at 9:04 am.
  • The DAX rose 0.66% at 9:03 as Deutsche Bank surged 1.97% at 9:06 CET. There were also big gains in the automotive industry, with Volkswagen rising 1.59% at 9:07 CET and Daimler up 1.50% at the same time.
  • The CAC 40 index rose 0.31% at 9:01 am CET, with ArcelorMittal up 1.57% at 9:05 am CET.

The euro rose 0.15% from the US dollar to 1.1797 at 9:09 CET, reaching a three-month high against the US dollar....

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