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European stocks are rising as traders bet to cut interest rates

2019-07-25 07:49 am | Resource: News | No Views : 57

 European stocks are rising as traders bet to cut interest rates

Risk appetite was plentiful on Thursday at the opening bell for European stock exchanges. The IMF's heavy rating to economic growth prospects and ugly numbers on manufacturing reduced hopes of renewed stimulus by the European Central Bank. Policymakers, who gather today and are due to issue an update on monetary policy, are expressing their willingness to cut interest rates, and the market's lowest expectation today is the enhanced guidance and timetable for asset purchases.
  • Strong improvement in the company's results helped the stocks in general, as the earnings season started to rise.

Volkswagen sales revenue rose 6.5% in the second quarter

Volkswagen said on Thursday its revenue jumped 6.5 percent to 65.18 euros in the second quarter on a year-on-year basis. Total sales revenue for the Volkswagen Group for passenger vehicles rose by 4.9% in the same time frame, reaching 125.2 billion euros

Operating income before special items amounted to 10 billion euros, an increase of 2% year on year. These special elements include, among other things, one billion euros of losses related to the Delgate scandal. The car division's cash flow increased by 39% to € 5.6 billion, with pre-tax profits up to € 9.6 billion. China's joint venture companies, which are included in the result of equity investments, fell only slightly in the shrinking Asia-Pacific market.

Gold fell slightly in safe haven at 9:17 am CET, selling at $ 1425.5 an ounce. Silver fell 0.25% to $ 16.55 an ounce.
The euro fell 0.09% to hit $ 1.11201, approaching a two-month low of 0.03% to £ 0.89208, as it seemed to hit the weakest point in nearly five weeks. The pound moved 0.06% to red to change hands for $ 1.2477.

European Stocks Open
  • The FTSE 100 rose only 0.05% after a somewhat optimistic start.
  • The German DAX rose 0.22%, led by Deutsche Bank by 1.7%.
  • The French CAC 40 rose 0.72% after the opening of the market.


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