EU markets start higher as political worries ease

EU markets start higher as political worries ease

On Wednesday, European markets started higher because worries as for political tensions in Germany started easing and market participants waited for the presentation of the latest British budget due later in the day.

The EURO STOXX 50 rallied 0.23%, Germany’s DAX 30 gained 0.07% and France’s CAC 40 jumped 0.13%.

Market sentiment had dropped after on Sunday German Chancellor Angela Merkel didn’t cope with forming a government coalition, when the Free Democrats Party suddenly dared to leave the negotiation table.

Financial stocks generally leapt. French lenders BNP Paribas along with Societe Generale managed to grow 0.35% and 0.30% respectively. As for Germany's Commerzbank and Deutsche Bank, these financial institutions rallied 0.07% and 0.41% respectively.

FTSE 100 leapt 0.13% in London, spurred by Kingfisher, whose equities rallied 2.72%. The benchmark revived from Tuesday’s steep losses after the home improvement retailer informed about a dip in third-quarter underlying sales.

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