Investing.com | Oct 15, 2019 10:20
By Geoffrey Smith
Investing.com -- Europe’s stock markets marched higher Tuesday on renewed confidence in the “phase-1” trade deal announced by the U.S. and China, as well as fresh hopes of a deal averting a disorderly Brexit at the end of October.
China finally endorsed the U.S.’s account of the handshake agreement made last Friday, with newswires quoting Foreign Ministry spokesman Geng Shuang as corroborating Washington’s summary.
At the same time, the EU’s top Brexit negotiator Michel Barnier told reporters that a deal between the EU and U.K. at this weekend’s summit was still possible, although he stressed that work still needed to be done.
Additionally, the first big sentiment indicator of the month in Europe, Germany’s ZEW index, came in slightly higher than expected at -22.8 rather than the consensus forecast of -27. That was still a drop from September, while the ZEW current conditions sub-index fell to its lowest headline reading since 2010.
However, it wasn’t all good news: the U.K.’s job boom cooled as employment fell by 56,000 in the three months to August, while average earnings growth (including bonuses) also weakened to 3.8% from 4.0%.
With sterling still well supported in the foreign exchange markets, the U.K. FTSE 100 underperformed the rest of the continent, falling 0.2% by 5 AM ET (0900 GMT). The benchmark Stoxx 600 was up 0.3% at 390.72, while Germany’s DAX index was also up 0.3%.
The FT and Wirecard have been at each other’s throats for months, with Wirecard alleging the newspaper colluded with short sellers to manipulate its share price. The FT said that the law firm it had hired to investigate Wirecard’s claims had found no evidence to support them. Wirecard had said much the same when it hired a law firm to investigate the FT’s allegations.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.