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Stocks in the European Union advanced slightly in early trading

2019-07-11 07:36 am | Resource: News | No Views : 43

 Stocks in the European Union advanced slightly in early trading

Stocks traded modestly in the green zone on Thursday in Europe's largest market, reversing yesterday's decline, while sovereign bonds from Germany and the UK also rose.

US Federal Reserve Chairman Jerome Powell maintained yesterday's stance that an increase in downside risks may require action in monetary policy. US Federal Reserve Chairman Jerome Powell said in testimony before the House Financial Services Committee on Wednesday that the central bank "will act as necessary" to maintain the current economic expansion, according to  his prepared statements.

On the data front German inflation rose by 0.1 percentage points to 1.5% last month, calculated by the European methodology, compared with 1.3% of flash data.

German inflation rises 1.6% in June

German consumer prices rose 1.6 percent in June from a year earlier, confirming earlier interim results, according to a report by the Federal Statistical Office (Destatis) published on Thursday. On a monthly basis, the CPI rose 0.3% from May.

Germany's CPI rose in the sixth month of 2019 by 1.5% year-on-year and 0.3% on a monthly basis, both exceeding initial estimates.
  • Gold rose 0.21% at 9:18 CET, handshaking versus $ 1.421.84 an ounce.
  • The euro was up 0.17% at $ 1.12704
  • Fell marginally to £ 0.89937.
  • The pound was 0.22% above the fixed line at $ 1.25316.

Oil prices reached their highest level after the United States and Britain claimed that a British frigate repelled an attempt by Iranian armed boats to disrupt an oil tanker in the Strait of Hormuz, after a strong weekly drop in US commercial stocks.

European Stocks Open
  • The FTSE 100 was 0.21% higher in London's Green Zone.
  • Germany's DAX rose 0.19%, led by Fresenius, which jumped 3.1%.
  • The French CAC 40 rose 0.31%.

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