European stocks rise in premarket trading

Tuesday, 12. February 2019 08:04

European stocks were higher in Tuesday's premarket trading after United States lawmakers managed to reach a deal "in principle" to avoid another government shutdown on Friday. The bipartisan agreement will reportedly allocate around $1.4 billion for roughly 80 kilometers of new border barriers, while also removing detention bed limits for Immigrations and Customs Enforcement previously demanded by the Democrats.

Regarding Brexit, no new breakthrough was reached at a meeting between chief Brexit negotiator Michel Barnier and United Kingdom's Brexit Secretary Steven Barclay. Meanwhile, British Prime Minister Theresa May will update the country's lawmakers later today on the latest developments surrounding the country's exit from the European Union.

The FTSE 100 was 0.29% higher at 8:01 am CET, while the DAX gained 0.77% at the same time. Meanwhile, the CAC 40 increased by 0.57% before the opening bell. The euro was slightly higher against the dollar, adding 0.05% to sell for 1.1283 at 8:04 am CET. The pound was little changed versus the greenback to go for 1.2865 at the same time.

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