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European stocks rising moderately on tip of US interest rate cut

2019-07-19 07:49 am | Resource: News | No Views : 35

European stocks are rising moderately on tip of US interest rate cut

The euro and the pound fell slightly against the dollar on Friday early in the session on major European stock exchanges. John Williams, chairman and chief executive officer of the Federal Reserve Bank of New York, called yesterday for a cut in interest rates in times of turmoil.

The Foundation claimed later that his statement was the result of academic research and not the position of monetary policy. Microsoft's sales rose 12.1 percent year-on-year in the fourth quarter. Concerns about the health of the euro-zone economy have increased as inflation in the German factory gate has been updated.

Inflation in German factory output drops to 1.2%

On the data front, signs of weakness in manufacturing in the euro zone's largest exporter were at producer prices. The Federal Bureau of Statistics in Wiesbaden fell 0.4% in June from a 0.1% drop last month. The annual rate in Germany was 1.2%, or 0.7 percentage points from May. The reading of the inflation gauge is the lowest since December 2016 as ECB policymakers are preparing to reinvigorate stimulus and likely reduce borrowing costs.

The largest downward contribution in the main index in the month alone was energy. The item lost 1.4%. Due to a 2.2% year-on-year rise, factory gate prices were only 0.9% higher per year if the component was not taken into account, unchanged from May. Electricity prices have risen 7.4% over the past 12 months. Analysts will focus on data from the industry to see how high the fears of recession.

European Stocks Open
  • The FTSE 100 rose 0.63% in London at 9:21 CET.
  • German DAX rose 0.57%, led by a jump of 2.36%.
  • The CAC 40 rose 0.68% at 9:22 CET.

Gold fell 0.54% to $ 1438.13 an ounce. The common currency also fell 0.16% to $ 1.12592 and rose just 0.06% to £ 0.89917. Sterling fell 0.2% to $ 1.25209.


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