European stocks start flat to higher as DAX lags

Friday, 22. June 2018 09:06

Equities on major exchanges in Europe opened with gains on Friday, with the exception of German shares, while members of the Organization of the Petroleum Exporting Countries were deciding how much to raise production quotas before coordinating the global pact with the bloc led by Russia. Saudi Arabia's government and the Kremlin are pushing for bigger increases in caps, while Iran wants a lower bar. Commodities were slightly higher for the day.

The FTSE 100 rose 0.29%. Smurfit Kappa, rising 1.05%, was the only component with an increase above 1%. The DAX started virtually unchanged in Frankfurt. Covestro, the best performer, added 0.69%, against a fall in Beiersdorf of 1.6% to the bottom of the chart. The CAC 40 was 0.29% in the green in the first transactions. Airbus, which said it is considering the possibility to end production in the United Kingdom due to Brexit, climbed 0.92% as the best stock.

The euro jumped 0.52% to $1.16637 at 9:02 am CET, the pound rallied 0.41% to $1.3295 and the joint currency was 0.13% higher at £0.87722.

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