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European stocks rose despite trade uncertainties

2019-05-14 08:17 am | Resource: News | No Views : 65

 European stocks rose despite trade uncertainties

Europe's main markets were in the green zone during early trading in London, Paris and Frankfurt, as investors followed news about uncertainty about the new trade looming in the EU and the US.

European Commission Commissioner for Commerce Cecilia Malmström said yesterday that the White House would not impose a tariff on EU car imports this week, but stressed that the bloc would respond immediately if the United States decided to charge car fees. At the same time, market observers turned to Allianz's results for companies, which were published before the opening bell.

German consumer prices rise 1% in April

Germany's consumer prices rose 1% in March from a month ago, the National Statistical Office said on Tuesday. On an annual basis, the index rose by 2%.
  • The CPI rose 1% on a monthly basis and 2.1% year-on-year, confirming provisional results.
  • Energy prices in April rose 4.6% YoY.
  • While food prices rose by 0.8% compared to the same month of 2018.
  • Commodity prices as a whole jumped 1.8% year-on-year, and service prices have increased by 2.1% since April 2018.

Allianz has € 40.3 billion in revenue, up 9.2 percent year-on-year

Insurance giant Allianz SA said Tuesday its first-quarter revenue jumped 9.2 percent to 40.3 billion euros on a year-on-year basis. At the same time, its net income was 2.05 billion euros, representing a 1% increase over the first three months of 2018. The diluted earnings per share also jumped 5.5% to 4.65 euros.

European Stocks Open
  • The FTSE 100 rose 0.47% at 9:16 CET, supported by the services sector.
  • The French CAC 40 rose 0.79% at the same time. Credit Agricole, STM Ekero Electronics and Airbus rose 2.04%, 2.08% and 1.59%, respectively.
  • The DAX rose 0.50% in early trading during the European session, driven higher by the auto industry.

The euro rose 0.17% against the dollar, to go at 1.1242 at 9:18 CET.

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