Europe opens higher after reassuring weekend

Monday, 22. May 2017 09:08

Markets in Europe began the week higher as over the weekend French President Emmanuel Macron underlined his commitment to strengthening ties within the bloc during talks with Italian Prime Minister Paolo Gentiloni. Investors are also optimistic about a meeting of the Eurozone finance ministers that are set to discuss the economic situation and possible debt relief for Greece.

Market watchers have also received major assurances from across the Atlantic as United States President Donald Trump’s first overseas trip kicked off very successfully with a $110 billion weapons agreement with Saudi Arabia, pushing the political turmoil concerning the abrupt dismissal of FBI chief James Comey into the background. On Monday, Trump will proceed to Tel Aviv, where he will talk with Israeli Prime Minister Benjamin Netanyahu. On Thursday, Trump will travel to Brussels to meet with leaders of the North Atlantic Treaty Organization (NATO), who are expected to give the go-ahead for a new spending program, according to the Wall Street Journal.

Upon the opening bell, the FTSE 100 rose 0.33%. The DAX added 0.20% , with energy company RWE posting the best result, after increasing 1.27% on the news about a possible share swap with Engie that could make a Franco-German giant. The CAC 40 rose 0.20%, with LafargeHolcim as the top performer, with its stock increasing 4.50% after the announcement it hired Sika boss Jan Jenisch to take over as chief executive. 

 Sterling declined 0.12% against the euro to go for 1.1617 at 9:10 am CET. The euro dropped 0.21% against the dollar to change hands for 1.1185 at 9:11 am CET.

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Breaking the News / KV