European stocks end higher with Brexit, trade in focus

Friday, 10. May 2019 17:32

Major stock markets in Europe finished the last trading session of the week mostly higher as investors remain focused on the United Kingdom's withdrawal from the European Union and global trade tensions. British Finance Secretary Philip Hammond claimed the Prime Minister Theresa May's resignation wouldn't solve the current deadlock in Brexit negotiations. Wilbur Ross, United States commerce secretary, stated President Donald Trump would make a decision on car import tariffs by May 18. Additionally, Ross said Washington was comfortable with any possible outcomes of the negotiations between US and China.

The FTSE 100 was almost flat, falling just 0.06% at the closing bell, weighted on by the tobacco industry. The DAX was 0.72% higher, as Thyssenkrupp AG surged 28.17% after scrapping its planned merger with Tata Steel. At the same time, the CAC rose 0.27% with optics manufacturer Essilorluxottica increasing 3.96%.

The euro gained 0.25% against the dollar, to change hands for $1.12435 at 5:32 pm CET. The pound grew 0.21% to $1.30312 at the same time.

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Breaking the News / MD