Stocks in EU hit October highs in wide rebound

Tuesday, 19. March 2019 14:17

Risk appetite in the markets increased on Tuesday, helped by favorable tones from Germany with regard to Brexit. Also, unemployment in the United Kingdom fell to 3.9% in January, the lowest level in 44 years. Minister of State for Europe Michael Roth expressed determination to prevent a divorce without an arrangement and Minister of Foreign Affairs Heiko Maas hinted at reopening negotiations. Chancellor Angela Merkel said she would work to achieve a smooth departure for Britain. Furthermore, she excluded the possibility of interference with negotiations about a merger of Deutsche Bank and Commerzbank.

The FTSE 100 jumped 0.54% to 7,338.92 points at 1:45 pm CET after touching 7,348.49 for the first time since October 5. The German DAX was 1.19% in the green at 11,795.38 points, last seen on October 17. The CAC 40 advanced 0.51% in Paris to 5,440.47 compared to the session high of 5,443.1 points, a record since October 4. The price movement was also underpinned by a rise in oil prices.

The euro added 0.19% at 2:15 pm CET to trade at $1.13586 and remained flat at £0.85538. The pound rose 0.19% to $1.32806 and gold jumped 0.54% to $1,310.52 per ounce.

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