Europe ends higher, recovers from slow start

Thursday, 16. May 2019 17:31

Markets in Europe closed with strong gains on Thursday despite starting the session with losses as a result of fresh trade worries. Trade war fears intensified as United States President Donald Trump declared a national emergency in order to protect US information and communications technology and services from foreign espionage and the US Department of Commerce put Chinese tech giant Huawei on a trade blacklist. European stocks recovered after French and British officials insisted their decisions on including Huawei equipment in their 5G networks will not be influenced by the US.

The FTSE 100 rose 0.78%. Hargreaves Lansdown recorded the strongest performance on the index, closing 3.74% in the green.

The DAX climbed 1.74%. The best performer was ThyssenKrupp whose shares soared 9.37% on reports the company could sell its elevator division to Kone Oyj for about €14 billion.

The CAC 40 jumped 1.37%. Dassault Systemes led the gains as its stock added 3.35%.

The euro lost 0.24% against the dollar to sell for 1.1175 at 5:36 pm CET.

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Breaking the News / NP