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European shares closed higher after US stocks closed higher

2018-11-08 09:05 am | Resource: News | No Views : 48



 Investors continued to show optimism on Thursday after the mid-term elections in the United States, where stock indexes rose to the top in major European stock exchanges.

Stocks rose in general despite a drop in Germany's foreign trade surplus, which came on the back of a jump in imports to the euro zone's largest economy. The markets have apparently ignored the pessimistic corporate results from a number of major and major lenders.

German exports collapse unexpectedly

Official data revealed Thursday that German exports and imports fell unexpectedly in September. Exports fell 0.8% month-on-month, reflecting a 0.1% gain in August. Meanwhile, imports fell 0.4 percent after August's drop of 2.4 percent.

 The trade surplus fell to a seasonally adjusted 17.6 billion euros from 18.2 billion euros a month earlier. On an annual basis, exports fell by 1.2 percent, while imports rose 5.3 percent in September. As a result, the unadjusted trade surplus fell to 18.4 billion euros from 24.2 billion euros a year earlier.

The current account surplus fell to 21.1 billion euros from 26.9 billion euros in the same period last year, the data showed.

European Stocks Open
  • The FTSE 100 is up 0.43% in early trade. Coca-Cola was the best performer, jumping 2.52%.
  • The DAX index rose 0.44%, led by the HeidelbergCement jump of 5.31%.
  • The CAC 40 index rose 0.24% in Paris. Sodexo surged 6.83% to the highest level, followed by a 3.35% rise in Societe Generale. The French bank boosted earnings by 16.1% in the third quarter of a year earlier.

Currencies and metals trading
  • The euro was steady at 1.14385 against the dollar and 0.87088 at 9:20 am.
  • Sterling was slightly higher at 1.3138 against the dollar
  • The greenback was up against the yen, up 0.14% to hit 113.6765 yen.
  • Gold fell 0.26% to $ 1.223.19 per ounce, compared to spot silver fell 0.42% to $ 


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NASDAQ Technical Analysis 16 November 2018

Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around the 6903 level and the trend is bearish after breaking the 6903 level down. In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival of indicators in the oversold, area and weakness of…

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