Major European indices are up solidly with gains of 1% or more for all the major indices except the UK. The gains are led by France’s CAC, and Italy’s FTSE MIB (four week high). Both rose over 1.4%. The German DAX reached new all-time highs supported by defense stocks.
Traders were encouraged by a trade deal with the US. The European Commission has reaffirmed its commitment to securing a foundational agreement with the United States on the ongoing trade dispute, aiming to finalize a deal by the end of this week.
A snapshot of the closing levels shows:
- German DAX +1.30%
- France’s CAC +1.44%
- UK’s FTSE 100 +0.14%
- Spain’s Ibex +1.24%
- Italy’s FTSE MIB +1.59%
As London/European traders look to exit for the day, US stocks are also advancing but at a lower pace:
- Dow industrial average +0.11%
- S&P index up 0.28%
- NASDAQ index up 0.58%
- Russell 2000 up 0.24
This article was written by Greg Michalowski at www.forexlive.com.