European shares rally in premarket

Monday, 12. August 2019 08:19

Investors took the cue on Monday from the repositioning in Asian markets and sent stock indexes in Europe higher, deciding equities have been oversold in the past month. Gold and silver, the most conventional safe havens, were in the red, also indicating a degree of risk appetite. China set the yuan's midpoint rate, lately one of the most widely watched catalysts amid the trade war with the United States, at 7.0211 per dollar. The level was weaker than Friday's 7.0136 but still a tad stronger than market consensus.

The euro moved just 0.07% up at 8:16 am CET, buying $1.12074, and 0.12% lower to £0.93032. The pound grew 0.18% to $1.20467. Gold slipped 0.14% to $1.495.45 per ounce while silver weakened 0.57% to $16.87 for one troy ounce.

The FTSE 100 advanced 0.41% in London. The German DAX index was 0.61% in the green and the CAC 40 rose 0.62%. The Euro Stoxx 50 rallied 0.52%.

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