Europe trades higher despite political uncertainty

Friday, 24. May 2019 09:16

European stocks were up in early trading on Friday despite fears of an escalating trade war between the United States and China and the uncertainty regarding Brexit amid a political crisis in the United Kingdom. UK Prime Minister Theresa May has been pressured to step down after an increased number of Tories opposed her latest Brexit offer. She is expected to announce the date of her resignation, which is likely to be June 10, but is expected to stay on as caretaker prime minister until a replacement is chosen. Elsewhere, US President Donald Trump claimed tech giant Huawei is "very dangerous" for US national security, while Beijing insisted US has no evidence to support accusations against Chinese companies.

The FTSE 100 added 0.39% at 9:14 am CET. Nmc Health posted the strongest gains on the index, increasing 1.60% at 9:14 am CET.

The DAX rose 0.52% at 9:15 am CET. Wirecard was the best performer as its shares climbed 1.34% at 9:18 am CET.

The CAC 40 traded 0.41% in the green at 9:15 am CET. Atos led the gains as it jumped 2.18% at 9:15 am CET.

The euro gained 0.15% against the dollar to sell for 1.1198 at 9:18 am CET and the pound was up 0.13% compared to the greenback to go for 1.2674 at 9:19 am CET.

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Breaking the News / NP