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Stocks in Europe rise on optimism in trade talks

2019-01-09 09:39 am | Resource: News | No Views : 152

 Market participants were optimistic about the outlook for the global economy on Wednesday, raising European stocks in early trading. China and the United States, which have caused fear in their trade war and disputes over intellectual property protection, have shown signs of progress in mid-level talks in Beijing. The two sides are said to be drafting a declaration after the end of the expanded round of negotiations.

High German trade deficit

In terms of data, Germany's goods trade surplus in November grew to a five-month high as imports fell unexpectedly and exports fell, giving further evidence of a slowdown in the euro zone's biggest economy.

The unrated trade surplus rose to 20.5 billion euros from 18.9 billion euros in October, according to preliminary data released by the Federal Statistics Office on Wednesday. Economists had expected a surplus of 18.6 billion euros.

The last surplus was the largest since June, when the figure was 22 billion euros.

On a seasonally adjusted and adjusted basis, the trade surplus rose to 19 billion euros from 17.9 billion euros in October. This was also the largest since June.

In November, the decline in imports exceeded exports.

Imports fell by a seasonally adjusted 1.6 percent from the previous month after a 0.8 percent increase in October. Economists had expected imports to remain unchanged.

On a non-adjusted basis, imports rose 3.6 percent year-on-year after a 10.8 percent increase in October.

Exports fell seasonally and the calendar was adjusted 0.4 percent on a monthly basis after a 0.9 percent increase in October. Economists had expected a 0.5 percent drop. The last drop was the biggest in four months.

European indices open
  • The FTSE 100 jumped 0.69% in London at 8:18 CET with Taylor Wembe at the top of the list of components, up 3.8%.
  • The German DAX was 0.79% higher in the positive territory, led by the rise of Volkswagen by 2.99%.
  • The CAC 40 is up 0.97%. Valeo was the best performer, with 3.54% trading in the green zone.

Gold and currency trades
  • Gold rose 0.2% to $ 1.282.74 per ounce.
  • The euro was up 0.22% at $ 1.14652 and 0.11% at 0.90035.
  • The pound rose 0.11% to $ 1.2735.

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