European equities are backed by NAFTA deal progress

European equities are backed by NAFTA deal progress

On Monday, European stocks jumped after a market-friendly speech by Fed Chair Jerome Powell as well as signs of progress on a US-Mexico NAFTA trade pact that pushed equities up.

The European STOXX 600 managed to add 0.3%, Germany's DAX gained 0.4%, reacting to fresh record maximums from the American S&P 500 as well as Nasdaq after Powell stuck with the major bank’s forecast for gradual interest rate lifts.

As for UK markets, they were unavailable due to a public holiday, thus making trading volumes thin enough across the region. By the way, the STOXX 600 happened to be through just 6% of its average daily volume during the first 90 minutes of trade.

Additionally, car equities SXAP turned out to be the top-notch gainers, adding 0.9% after on Saturday Donald Trump told that a trade pact with Mexico was near.

Volkswagen, Daimler, and BMW tacked on to 1.6%. Eventually, the German car makers put much value on smooth trade between America and Mexico to sell cars made in Mexican manufacturing plants into the American market.

The equities of Lundin Petroleum jumped by 4% after Norway's Equinor ramped up its resource forecast for the Johan Sverdrup oilfield where Lundin boasts a 22.6% stake.

Germany-listed equities of American electric car maker Tesla headed south more than 5% in early deals, thus showing that the American stock is going to take a hit right after Chief Executive Elon Musk dared to call off his bid with the aim of taking the company private.

Year-to-date the STOXX 600 has slumped by 1.2% because political developments in Turkey and Italy put pressure on the market and especially banking equities.

In addition to this, the FTSE MIB index managed to underperform counterparts in Italy, inching down approximately 0.2%.

 

Similar

American futures tack on

On Thursday, American equities jumped a bit due to the fact that market participants set aside fears over the everlasting trade conflict between China and America and turned their focus to economic data as well as earnings out later in the trading…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera