European equities start higher

European equities start higher

On Monday, European equities started higher because a wave of optimism as for the resilience of the world economy spread across financial markets notwithstanding the escalating US-China trade conflict as well as a new Brexit downtime within the UK authorities.

The STOXX 600 index managed to gain up to 0.6%, the British blue chip index FTSE 100 soared 0.3% with revenues across sectors and bourses.

Upbeat job data in America on Friday managed to reassure traders who have yet to observe a tangible deceleration because of the implementation of higher trade barriers.

Data uncovered on Monday also disclosed that in May, German exports bounced off providing more evidence of the strengthening economy in the second quarter.

In the United Kingdom, some market participants took the view that the resignation of Brexit minister David Davis could potentially assist in delivering a softer way out of the European bloc.

Global miner BHP Billiton turned out to be a key mover on the UK stock market, soaring by 2.1% on rumors that BP could have its American shale assets purchased. BP went down by 1.1%.

In the European Union, Air France KLM happened to be one of the top-notch performers. It managed to soar up to 7% having reported higher passenger traffic for June. At the same time, a leading French transport executive was promoted as its probable new chief executive.

In addition to this, Oslo-listed seismic surveyor TGS-Nopec appeared to be a notable performer too, soaring about 7.6% having uncovered a better than anticipated outlook.

Besides this, equities in French car maker Renault headed south about 2.3%, heavily suppressed by a sink in the stock price of Nissan, its partner, after the Japanese company told it would come up with an explanation as for its emissions measurement processes.

 

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