European markets close higher amid trade optimism

Monday, 25. November 2019 17:32

European markets closed in the green on Monday on fresh hopes the United States and China will resolve their ongoing trade dispute. The Chinese Foreign Ministry said it hopes to work with Washington towards a trade deal based on equality and mutual respect, while media reports cited Chinese sources as saying the two sides are "very close" to striking a phase one agreement. Elsewhere, investors focused on the political developments in the United Kingdom ahead of next month's early general election in the country. According to bookmakers, support for Tories has increased after the ruling party released its manifesto over the weekend.

The FTSE 100 climbed 0.95%. NMC Health was the best performer as its shares soared 6.51%. The DAX rose 0.63% with Infineon, up 2.63%, leading the gains. The CAC 40 added 0.54%. ArcelorMittal jumped 2.88%, followed by Atos, up 2.40%. LVMH increased by 2.02% after the luxury company announced it is acquiring Tiffany & Co. for $16.2 billion.

The euro lost 0.14% against the dollar to sell for 1.10076 at 5:36 pm CET, while the pound gained 0.49% compared to the US currency to go for 1.28992 at the same time.

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Breaking the News / NP