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European stocks rise and delayed the opening of FTSE

2019-08-16 07:43 am | Resource: News | No Views : 34

 European stocks rise and delayed the opening of FTSE

Markets in Europe opened with gains on Friday as trade concerns eased slightly after US President Donald Trump said he believed China wanted to reach an agreement with the United States and would not carry out its threat of retaliatory measures on future tariffs. Meanwhile, ECB Governing Council member Olli Rehn said the central bank's stimulus package, to be announced next month, would "exceed expectations."

Commercial optimism

US President Donald Trump said Thursday that the next round of trade negotiations between Beijing and Washington in early September "is still scheduled." Speaking to reporters in New Jersey, Trump said the negotiations were "still planned, as far as I know," less than a week after he announced they might be canceled. "What is more important than September is that we are speaking by phone and we have fruitful talks," he said. He stressed that China "wants to reach an agreement" and will talk "soon" with Chinese President Xi Jinping, who "knows him well." The US government announced on Tuesday that it had decided to defer for more than two months the new tariffs it plans to impose on a long list of imported Chinese products such as phones and games.

ECB Rein: Next stimulus will "exceed expectations"

European Central Bank (ECB) board member Olli Rehn said Thursday that the stimulus package to be announced at the bank's next policy meeting in September should "exceed" investor expectations. In an interview with The Wall Street Journal, the governor of the Finnish central bank said it would be better to have a "very strong package of policy measures rather than tampering" if policymakers wanted the measures to significantly affect the economy.

Renn is a strong supporter of stimulus in the face of a looming economic slowdown and is also a member of the ECB's interest rate setting committee.

European stock openings
  • The opening of the FTSE 100 was delayed due to "potential problems in trading services" on the London Stock Exchange.
  • The DAX rose 0.31% at 9:02 CET with Infineon rising 1.90% at 09:03 CET.
  • The CAC 40 rose 0.34% at 9:01 CET. ArcelorMittal led the gains as its shares rose 1.64% at 9:02 CET.

The euro fell against the dollar after the Rennes statement to 0.21% below the baseline level at 16:06 CET, while losing 0.74% compared to the pound at one time.

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