European markets start higher notwithstanding fresh Brexit deadlock

European markets start higher notwithstanding fresh Brexit deadlock

On Tuesday, European markets started higher notwithstanding news that Brexit talks had stalled once again.

The EURO STOXX 50 rallied 0.24%, Germany’s DAX 30 tacked on 0.20% and France’s CAC 40 gained 0.11%.

Traders seemed to have neglected news that on Monday the European Union and Great Britain didn’t manage to agree upon the terms for Brexit.

However, as European Commission President Jean-Claude Juncker told, it didn't mean that negotiations were failing.

Financial stocks generally gained. French lenders Societe Generale as well as BNP Paribas soared 0.77% and 0.28% respectively. In Germany, Commerzbank and Deutsche Bank dived respectively 0.08% and 0.09%.

In Italy, Intesa Sanpaolo as well as Unicredit tacked on respectively 0.36% and 0.240%, while Spanish financial institutions BBVA and Banco Santander leapt 0.22% and 0.07% respectively.

FTSE 100 acquired 0.45% in London, underpinned by WM Morrison Supermarkets PLC.

 

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