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European stocks start the week slightly higher

2019-04-15 08:34 am | Resource: NEWS | No Views : 100

 European stocks start the week slightly higher

European major markets started the first trading session for the week slightly higher with a focus on earnings earnings results.

Where Goldman Sachs is due to announce. Citigroup reports their earnings later in the day.

The UK government has been praised for its management to avoid Britain's exit from the EU on the deal so far by Japanese Prime Minister Shinzo Abe, who expressed the hope that the negative effects of the withdrawal would be minimal. At the same time, regulators have urged Deutsche Bank to reduce the size of its investment unit in the United States.

Deutsche Bank has urged the US investment department to cut back

German bank Deutsche Bank is facing more pressure from regulators to continue cutting US investment, the Financial Times reported on Monday, quoting people familiar with the matter. According to the report, company executives believe that the US part of the investment bank is still unprofitable and needs to be curtailed.

"We started to clarify our regulatory expectations [about curbing CIB operations] about two years ago, and we still have our point of view," a senior observer said. At the same time, the official, who was not named, said Deutsche Bank's possible deal with Commerzbank would have no effect on regulators' decision. German banks have been discussing the merger since March, but there is no certainty that the deal will take place.

At the same time, Deutsche Bank said it had already begun cutting its investment banking division, raising debt levels to 13% and reducing staff by 7%.

UK: Exit talks with Labor are very constructive

British Foreign Secretary Jeremy Hunt said on Monday that Britain's EU exit talks with the Labor Party were "more constructive and detailed" than anyone expected. Speaking to the press in Tokyo, the official stressed that all parties agree on the need to conclude a deal on Britain's exit from the European Union.

"There is broad agreement among all parties in the House of Representatives that we must hand over Britain's exit from the EU," Hunt said. "It is clear that Brexit's paralysis, if it continues, will be very damaging to our international standing." Commenting on the possibility of UK participation in European elections this year, the minister said he would not be "disappointed".

European Stocks Open
  • The FTSE 100 was flat with the Nationwide Great Electricity and Gas Utilities up 1.25%.
  • In Frankfurt, the DAX rose 0.07%, supported by Deutsche Bank by 1.58% at 9:15 CET.
  • France's CAC 40 jumped 0.05% with Publicis Groupe posting 1.95%.

The euro rose 0.15% against the dollar, trading at $ 1.13162 at 9:14 CET. Meanwhile, the British Pound was up 0.13% at $ 1.30883.

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