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European stocks were mixed amid uncertainty over Britain's exit from Europe

2019-05-20 08:51 am | Resource: NEWS | No Views : 109

 European stocks were mixed amid uncertainty over Brexit from Europe

 Indices of major European stock markets mixed on Monday shortly after the opening bell as trade tensions between the United States and China continued, as did doubts about Britain's exit from the EU to attract investors' attention.

Over the weekend, US President Donald Trump said Washington and Beijing "pretty much" had a trade deal before Beijing decided to change it. At the same time, UK Prime Minister Teresa Mae returned to Europe and will make a "bold offer" to parliament aimed at improving Britain's exit package from the EU so that the legislature can pass it.

German producer prices rise 2.5% in April

Germany's producer prices rose 2.5% in April from a year earlier, the National Statistical Office said on Monday. In March, the PPI rose 2.4%.

The index witnessed an increase in prices in all major industrial groups with energy contribution rising. In April, energy prices rose 6.6% year-on-year. Excluding energy, the PPI rose 1.3% from the same month in 2018.

 The prices of durable goods and capital goods rose by 1.6%. Prices of capital goods and non-durable goods rose by 1.5%, while intermediate goods prices grew by 1%.

On a monthly basis, the PPI rose by 0.5% in April compared to March.

European Stocks Open
  • The DAX fell 0.26% shortly after the opening bell as Infineon fell 2.97% after reports that the German company decided to stop shipments to Huawei Technologies of China Telecom.
  • The French CAC 40 index was down 0.27% at the same time as STMicroelectronics was down 4.23%.
  • Meanwhile, the FTSE 100 rose 0.12% thanks to shares of IFRAZ by 2.07%.

The euro traded flat against the US dollar, trading at 1.1157 at 9:19 CET.

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