Europe closes mostly higher on Brexit optimism

Tuesday, 15. October 2019 17:30

Markets in Europe closed with strong gains on Tuesday on reports that the United Kingdom and the European Union are close to reaching an agreement on Brexit. However, Irish Prime Minister Leo Varadkar warned that the reports may be premature and that there is still a "wide gap" between the EU and the UK on the issue despite progress being made. Investors also digested corporate earnings from the United States, with JPMorgan, Wells Fargo, Goldman Sachs and Johnson & Johnson among companies that reported earlier in the day.

The FTSE 100 ended flat. The DAX jumped 1.15% with Deutsche Bank, up 2.88%, leading the gains. The CAC 40 rallied 1.04%. BNP Paribas was the best performer on the index as its shares climbed 3.64%.

The pound surged 1.07% against the dollar to sell for 1.27415 at 5:31 pm CET. The euro was up 0.09% compared to the US currency to go for 1.10362 at the same time, while it dropped 1.01% against the pound to sell for 0.86565 at 5:32 pm ET.

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Breaking the News / NP