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EU equities rally
On Monday, EU key equity benchmark concluded a bit higher because fresh US-China trade fears put pressure on investors’ appetite for equities.
The Stoxx Europe 600 SXXP surged by 0.1% trading at 378.31 following Friday’s 0.2% ascend as well as a 1% leap the previous week.
The DAX 30 DAX concluded 0.2% up being worth 12,096.41 in Germany. The CAC 40 PX1 dived by 0.1% in France demonstrating an outcome of 5,348.87. The FTSE 100 UKX dived by 0.1% in Great Britain showing 7,302.10. Additionally, the FTSE MIB I945 gained 1.1% in Italy hitting 21,111.40, thus marking the best daily profit for a week.
The currency pair EUR/USD hit $1.1673, adding from Friday’s outcome of $1.1622. The currency pair GBP/USD soared to $1.3128 jumping from $1.3068.
On Monday, trade tensions resumed because China is about to turn down fresh American trade negotiations if US leader proceeds with $200 billion in levies versus China’s goods.
The UK currency rallied because talks between Brussels and Great Britain are in focus. The first of three summits is going to be held on Thursday in the face of hopes for progress on the Irish-border Brexit issue. A stronger UK currency is capable of putting pressure on the FTSE 100 because the index’s multinational businesses generate most of their sales in other assets.
The equities of Stoxx 600 heavyweight H&M Hennes & Mauritz AB HMB managed to add 16.6% because the company reported forecast-surpassing sales for the third quarter.
ArGEN-X SE ARGX concluded 0.5% down, having ascended by 4% right the biotech company cape up with upbeat outcomes for a treatment to help folks suffering from autoimmune disorders. Market experts at Stifel had told the news should have the company de-risked.
Besides this, business software group SAP SE SAP turned out to be a top loser for the Stoxx 600 as well as the German DAX 30 index losing 1.3%.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…