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On Monday, stock indexes of Western Europe concluded trading with weak as well as multidirectional changes. However, the British FTSE 100 rose to a 11-week high after the depreciation of the UK pound.
The index of the key businesses in the region Stoxx Europe 600 fell by the end of trading by approximately 0.03% being worth 381.84 points.
The UK indicator FTSE 100 added 0.54%. The exchange rate of the British pound against the evergreen buck decreased by 0.4% right after the governor of the Bank of England Mark Carney made it clear that he isn’t going to hurry with tightening of the bank’s monetary policy.
The French CAC 40 managed to soar by 0.39%, the German DAX decreased by 0.21%. As for the Spanish IBEX 35, it tacked on by 0.16%, just like the Italian FTSE MIB.
Besides this, equities of mining as well as metallurgical companies rallied following the cost of non-ferrous metals. As a matter of fact BHP and Rio Tinto gained 0.9% at the auctions in London, while Glencore tacked on 0.7%.
Aluminum has inched up by about 25% since early April and this commodity is currently trading above $2,500 per ton, while analysts at Goldman Sachs and UBS expect surge of $3,000 per ton.
Against the backdrop of the weakening of the British pound, equities of British pharmaceutical company GlaxoSmithKline Plc went up by about 1.6%, while British American Tobacco gained by 1.4%.
The market value of Ericsson rallied by 17% at the auction in Stockholm. The given company sharply diminished its net loss in the first quarter and ramped up gross margin due to cost reduction.
The price of securities of British Reckitt Benckiser dived by 2.8% because the surge of comparable sales of the company didn’t meet the expectations of the market.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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