European stocks gain on monetary policy optimism

Tuesday, 30. July 2019 08:02

While the falling pound benefited on Tuesday the internationally oriented companies listed in London, as it makes their exports more competitive, stocks in the Eurozone advanced against the backdrop of optimism regarding bilateral talks between China and the United States and the Bank of Japan's vow to maintain stimulus in the fight to bring inflation back up. Precious metals were slightly lower before the opening bell on European equity exchanges.

The earnings season reached its peak with Bayer and Lufthansa having issued quarterly reports. Sony, Merck and Co. Mastercard and Apple are some of the major names on deck for today. Investors are also waiting for inflation data from Germany, the European Union and the US as the most important updates before the monetary policy decisions by the Federal Reserve and the Bank of England.

The euro slipped 0.09% at 7:59 am CET to $1.11345 but it rallied 0.6% to £0.91774. Sterling tumbled 0.7% to $1.21326. Gold was 0.26% in the red at $1,423.13 per ounce. The UK's FTSE 100 stock index moved 0.51% higher. The DAX was 0.06% in the green in Frankfurt compared to the gain of 0.07% in the CAC 40. The Euro Stoxx 50 advanced 0.08%.

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