Major European indices are up solidly with gains of 1% or more for all the major indices except the UK. The gains are led by France’s CAC, and Italy’s FTSE MIB (four week high). Both rose over 1.4%. The German DAX reached new all-time highs supported by defense stocks.
Traders were encouraged by a trade deal with the US. The European Commission has reaffirmed its commitment to securing a foundational agreement with the United States on the ongoing trade dispute, aiming to finalize a deal by the end of this week.
A snapshot of the closing levels shows:
German DAX +1.30%France’s CAC +1.44%UK’s FTSE 100 +0.14%Spain’s Ibex +1.24%Italy’s FTSE MIB +1.59%
As London/European traders look to exit for the day, US stocks are also advancing but at a lower pace:
Dow industrial average +0.11%S&P index up 0.28%NASDAQ index up 0.58%Russell 2000 up 0.24
This article was written by Greg Michalowski at www.forexlive.com.