Stocks diverge in Europe after announcement of British tariff plan
2019-03-13 09:21 am | Resource: NEWS | No Views : 28
The stock indexes on major European stock exchanges were looking for a trend early in the session on Wednesday. The losses were supplemented by a commitment by the UK government that it would implement temporary customs exemptions in the event of Britain leaving.
European Commissioner for Economic, Financial, Tax and Customs Affairs Pierre Moscovici told France 2 television on Wednesday that the EU needs to begin preparations on customs if Britain leaves the EU. The commissioner added that there would be no new negotiations before March 29, as the risk of Britain getting out of the European Union increased significantly. "Now is the time for the British to say what they want, and now they have said what they do not want," Moscowevi said.
"We have done everything in our power," the economist said, echoing statements made by European Union chief negotiator Michel Barnier after the British House of Commons voted to approve prime minister Teresa May's approval of Britain's exit from the EU by 242 to 391.
Lawmakers today will decide whether they want to rule out an uncontrolled withdrawal from the European Union after they again rejected the agreement reached by Prime Minister Teresa Mae. Investors are also waiting for the Treasury Department's Spring Statement as the fiscal year ends at the end of the month. The Sterling recovered from yesterday's low.
Merkel says extension of Article 50 will be "easy"
German Chancellor Angela Merkel said extending Article 50 until the end of June would be "easy" for the European Union, the Guardian newspaper quoted a senior diplomatic source as saying. It was reported to have commented at the Arab-European summit in Sharm el-Sheikh earlier in February. European parliamentary elections are due to take place on May 23, but the foundation will meet only after June, when Britain withdraws from the bloc.
After losing a second vote on its agreement on Britain's exit from the European Union, British Prime Minister Teresa May said the next step would be a vote on extending Article 50, possibly on Thursday.
European Stocks Open
- The FTSE 100 fell 0.13% only at 9:20 am CET. Kingfisher was the worst performer, dropping 2.47%.
- The German DAX fell 0.26%, led by a 5.55% decline in Adidas.
- The CAC 40 rose 0.05% in Paris. Accor was the strongest component, adding 1.14%.
Gold and currency trades
- Gold rose 0.29% to $ 1305.28 an ounce.
- The euro was steady at $ 1.12861 and falling 0.46% to hit £ 0.85918.
- The British Pound was up against the US Dollar, gaining 0.47% to hit $ 1.3136.
Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The purchasing power managed to control the movement of the NASDAQ 100 index to bounce the NASDAQ 100 index to reach the level of 7290 where it faces some selling pressure around this level. In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival…
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