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European shares open higher despite concerns of bricast

2019-01-11 09:19 am | Resource: News | No Views : 221


European stocks opened in the green zone on Friday as investors follow recent developments regarding the UK's departure from the EU as the "targeted vote" approaches the UK exit package. However, there is still no indication that British MPs will vote for the agreement agreed between Prime Minister Teresa Mae and the European Union last year.

On the data front, traders wait for UK GDP and industrial production numbers.

On Wednesday, the three-day trade negotiations between Beijing and Washington, which the Chinese Ministry of Commerce announced had strengthened mutual understanding, laid a foundation for addressing the concerns of both sides, and agreed to keep "close contact" on a continuous basis.

UK Hunt hints at the possibility of not coming out of the EU

 Britain's Foreign Minister Jeremy Hunt said on Friday there was another possibility of emerging on Britain's stalled exit negotiations from the European Union, which is "not Britain's exit."

Speaking of paralysis in Brexit negotiations that could lead to a result the government was forced to completely abolish Article 50 and abolish Brexit. However, Hunt stressed that the UK government would not achieve the results of the 2016 referendum would be a "fundamental breach of trust" and would erode the country's reputation abroad.

The UK's top diplomat said there were not many alternative forms of options available and stressed that it was "absolutely unacceptable" that the government would lose a meaningful vote next week on the withdrawal agreement. Hunt went on to say that the deal is still possible with the right guarantees on the temporary nature of the Irish support clause.

European Stocks Open
  • The German DAX rose 0.03% after the opening slightly with Lufthansa profit up 1.54%.
  • In France, the CAC 40 index rose 0.08% with Orange and Hermes as the best performer by 1.81% and 1.22%, respectively.
  • Britain's FTSE 100 rose 0.35%, with Taylor Wimpey gaining 2.45%.

The Euro was up 0.19% against the US Dollar, trading at 1.1521 at 9:17 CET.

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