Europe mostly higher in early trade, Middle East in focus

Monday, 24. June 2019 09:16

European equities traded mostly higher on Monday shortly after the start of the session as tensions between Iran and the United States took the spotlight. US President Donald Trump ordered a retaliatory attack on Iran after the downing of an unmanned American surveillance drone near the Strait of Hormuz, only to abort the proposed strike in favor of new sanctions against Tehran, set to be announced later in the day. Meanwhile, precious metals and crude prices traded higher supported by the concerns.

The DAX was down 0.06% at 9:15 am CET with Daimler leading the losses as it fell over 3%. Meanwhile in Paris, the CAC 40 gained 0.29% as Carrefour topped the chart. The FTSE 100 was up 0.18%; insurance company Admiral Group leaped over 2% as the to performer. The euro rose 0.09% against the dollar at 9:17 am CET, buying 1.1379, as the sterling declined 0.03% versus the greenback to go for 1.2738.

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