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European markets diverge amid Britain extended extension

2019-04-11 08:01 am | Resource: News | No Views : 153

 European markets diverge amid Britain's extended extension

European stock markets mixed soon after the opening bell on Thursday amid a decision by the European Council to extend the deadline for a UK pullout from the EU until October 31.

However, UK Prime Minister Theresa May feels that Britain can still get out of the bloc on June 1 if the withdrawal agreement is accepted in the first three weeks of May.

May: The UK can leave the EU on 1 June

UK Prime Minister Theresa May said on Thursday that the UK could still leave the EU on June 1 if the withdrawal agreement was accepted in the first three weeks of May. Her comments followed the meeting of the European Council where EU member states decided to allow the postponement of Article 50 until October 31.

She said she had agreed to the terms of the offer, which included the holding of the European elections, but added that London could avoid the elections if the British exit from the European Union. The deal was ratified by the end of May.

The prime minister said she would address the House of Commons later on Thursday and that she would continue her talks with the opposition Labor Party. "The UK should have left the EU now, and I regret the fact that I have not yet been able to persuade Parliament to approve a deal that would allow the UK to leave in a smooth and orderly manner.

" The options we are facing now are the timetable is very clear, We have been moving forward to reach a consensus on an agreement that serves the national interest. "

German consumer prices rise 0.4% in March

The German Federal Bureau of Statistics said on Thursday that consumer prices in Germany rose by 0.4% in March compared to the previous month. Year on year, the index rose 1.3%. Meanwhile, the CPI rose 0.5% from the previous month and 1.4% year-on-year, confirming interim results.

Energy prices rose 0.6% in March on a monthly basis and 4.2% year-on-year. Excluding energy, inflation rose to 1.1% in March. In addition, food prices fell by 0.6% in March compared to the previous month, while food prices rose by 0.7% year-on-year.

At the same time, the European Central Bank decided yesterday to keep interest rates unchanged, warning that global economic growth is still under threat.

European Stocks Open
  • The DAX rose slightly above the fixed line to 0.07% just moments after the session started, supported by Lufthansa's rise of 2.06%.
  • The CAC 40 index rose 0.45% at the beginning of the session, with SODICO gaining 3.84%.
  • The FTSE 100 fell 0.05% shortly after opening, with a record low of 5.36% in Aberdeen.

The euro rose 0.06% against the US dollar, to sell at 1.1282 at 9:14 CET, while the British pound rose 0.10% against the US dollar, reaching 1.3102 at the same time.


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