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European stocks rally
On Friday, European equities went up, breaching a five-month maximum recorded yesterday because market participants cheered upbeat signals over US-China trade negotiations and after British lawmakers underpinned a delay of a chaotic departure from the EU.
The STOXX 600 managed to surged by about 0.1%, breaking the October 5 maximum recorded on Thursday and finding itself on track for its greatest weekly leap for a month.
All the key bourses stood in positive territory. However, London's FTSE 100 managed to outperformed its peers, backed by its heavyweight mining and oil shares on higher metals as well as crude prices. As for trade-sensitive DAX, it surged by 0.1%.
The sentiment was also underpinned by strengthening hopes that the United Kingdom won’t depart from the European Union without an agreement on March 29 after Thursday night's parliamentary vote.
Technology shares turned out to be the top-notch performers, adding 0.6% after better-than-anticipated outcomes from American chipmaker Broadcom overnight and backed by hopes that China and America are going to resolve their trade clash, which has affected financial markets.
Chinese Vice Premier Liu He had a telephone conversation with US Treasury Secretary Steven Mnuchin as well as US Trade Representative Robert Lighthizer. The both sides made further substantive progress on trade negotiations, as Xinhua informed on Friday.
The prospect of the trade negotiations taking longer than anticipated tamed some of the profits, and there was still no clarity on how close the two leading countries are to coming to a compromise.
UBS headed south by 1.3% after Switzerland's major financial institution told it’s increasing its litigation provisions to deal with a French court that imposed a hefty penalty in February.
Meanwhile, Swedbank tumbled by 1.9% because the Danske Bank moneylaundering scandal escalates.
AMC spiked more than 100% on Wednesday, the struggling brick-and-mortar retailer Bed Bath & Beyond jumped by about 51%.
The biggest newsmaker of the stock market in the past few days has been Virgin Galactic. The stock jumped by more than 20% in premarket trading on Monday.
The Bank of England will release its statement and announce its monetary policy decision at 14:00 MT.
Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
The US dollar has surged to levels unseen since April after the Fed's decision back on Wednesday. Gold has reversed up from the local dips. Still, this week was the worst for gold in more than a year.