Europe ends sharply higher on hopes of trade deal

Friday, 18. January 2019 17:33

Markets in Europe closed sharply in the green on Friday as investors grew more optimistic of a trade deal between Washington and Beijing after reports emerged that United States Treasury Secretary Steve Mnuchin may propose easing or abolishing import tariffs on Chinese merchandise. The auto industry recorded the biggest gains since China is one of the biggest vehicle importers in the world. Meanwhile, market watchers also kept their focus on Brexi developments in the United Kingdom.

German DAX rose 2.71% at the end of the session with Daimler gaining 4%. In France, the CAC 40 added 1.69% at the closing bell. Meanwhile, London's FTSE 100 finished 1.95% in the green while the Eurostoxx 50 increased 2.06%.

The euro lost 0.29% against the US dollar to sell for 1.1358 at 5:37 pm CET while it advanced 0.39% against the British pound to go for 0.8805 at 5:38 pm CET.

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