European markets rise as US, China agree on tariffs

Thursday, 07. November 2019 09:06

European stocks opened the session in the green on Thursday as the trade talks between the United States and China are moving forward. Despite the reported delay of the phase one deal signing, China's Commerce Ministry claimed that Washington and Beijing agreed on tariffs removal by both sides.

Meanwhile, German industrial production weakened in September, according to Destatis' report. Later on Thursday, the Bank of England is scheduled to reveal its interest rate decision that is expected to leave monetary policy unchanged. As the earnings season heats up, European companies such as UniCredit, Lufthansa AG, Commerzbank, Siemens, and ArcelorMittal announced their quarterly results.

The DAX jumped 0.60% at the opening bell with Lufthansa's stocks increasing over 5% after the largest German airline released strong results for the third quarter. Siemens' equities went up nearly 4% as the earnings were published. The FTSE 100 gained 0.35% with Glencore PLC leading the way jumping 2% while the CAC 40 rose 0.38% at the same time. ArcelorMittal and Sodexo were the top performers on the Paris-based market, both increasing over 5%.

The euro was flat against the dollar to go for 1.10744 at 9:03 am CET.

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Breaking the News / GA