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European markets stocks open higher as trade talks approach

2019-10-08 07:45 am | Resource: News | No Views : 16

 European stocks open higher as trade talks approach

European markets started trading on Tuesday in positive territory as China-US trade talks continue. The two will meet in the next round of negotiations this week, although differences remain. The US Commerce Department blacklisted eight Chinese companies on Monday

German industry hikes production by 0.3% in August

In parallel with the drop in orders reported by producers, German industrial production rose 0.3% in August. The annual decline is still accelerating to 4% from 3.9%, but only after the previous month's figure was revised by 0.3 percentage points, according to a report released on Tuesday by Destatis.
  •  The July result alone from the Flash update was improved to show a total decrease of 0.4% instead of 0.6%.
  • The headline for the month of the report was supported by the core industry, which showed an increase in output of 0.7%. The scale excludes construction and energy, which recorded a decrease of 1.5% and 1.7%, respectively.
  • Going back to the narrower measure, the August increase was driven by capital goods, rising 1.1%. This sector was followed by intermediate goods (1%), versus a 1% decline in consumer goods production.

The UK cuts import tariffs slightly in preparation for the Brexit scenario

The British government said on Tuesday that 88% of imports in terms of value would not be overburdened if the country leaves the European Union. The main title of the update to the temporary tariff system compares to the original 87% of March.

The UK has decided to set lower rates in the category of heavy cargo vehicles or heavy trucks, citing the need to reduce carbon emissions by replacing the fleet. However, an upward adjustment has been applied to ethanol from abroad because the commodity is "important for vital national infrastructure," the paper said. Among the changes, some tariffs have been added on clothing products to maintain preferential access for developing countries in Brexit, according to economic policy makers.

"Our temporary tariff system will support the British economy as a whole, helping British companies trade and opening up opportunities for companies to import the best goods from around the world at the best prices for British consumers. The UK is a free trade country." The British are in a strong position to compete in an open environment for free trade. "

European shares trading
  • The DAX rose 0.70%.
  • The CAC 40 rose 0.09%.
  • The FTSE 100 rose 0.25%.

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