European markets generally ascend as market sentiment improves

European markets generally ascend as market sentiment improves

On Monday, European markets edged up because upbeat news on the Brexit front as well as the US tax reform front improved market sentiment worldwide.

The EURO STOXX 50 grew 0.88%, Germany’s DAX 30 gained 1.02%, while France’s CAC 40 ascended 0.79%.

Market sentiment improved after on Friday the US Senate approved a tax overhaul, thus marking President Donald Trump first key political win.

The Trump administration stressed that its tax cuts are going to spur growth and power inflation, thus justifying a faster tempo of monetary tightening by the Fed.

Market participants also appreciated recent news that Brexit negotiations were actually moving in the right direction. According to the report, the EU has given UK Prime Minister Theresa May time until Monday to compose a more comprehensive divorce offer.

FTSE 100 edged up 0.76% in London because British lenders tracked their EU rivals steeply higher.

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