At a standstill    An easy commute    Weighing up on IPOs    A difficult year for Iran    The year of decision    Results not good enough    Ready in just three months    Education a priority    How to be a housewife    Mohamed Sobhi's sarcastic theatrical performance Khebatna is a must go    Portraits of Al-Ahram    Sisi issues decree pardoning some prisoners on Jan revolution anniversary    Police to resume search for missing Cardiff footballer's plane on Wednesday    Egypt's big-spending Pyramids FC sign Peru midfielder Benavente    Egypt, Germany mull technological cooperation in environment    FACTBOX: Key nominations for the 2019 Academy Awards    Opposition leader pushes for parliament vote on new Brexit referendum    Art Alert: Medhat Saleh to sing at Cairo Opera House on Wednesday    Earnings season lifts Saudis; major Gulf markets drop    Ronaldo pleads guilty to tax fraud at Madrid court    Bellerin out for season with knee injury - reports    Book fairs necessary to nourish publishing industry, Egypt still suffering: IPA    Fruitful outcomes recorded during society dialogues on amending NGOs Law    Mercedes-Benz will start assembling its cars in Egypt soon    Total of 1.9 million newborns vaccinated against poliomyelitis in 2018: Ministry of Health    Growth in MENAP region to recover up to 3% in 2020: IMF's WEO    Libyan photojournalist killed amid clashes in Tripoli    UN peacekeepers killed in Al-Qaida-linked attack in Mali    Macron phones Al-Sisi to discuss bilateral relations ahead of scheduled visit    Al-Sisi reviews economic situation with prime minister, finance minister    50th Cairo International Book Fair to launch in EIEC Wednesday    Six Old Period tombs found in Aswan    Canada should ban Huawei from 5G networks, says former spy chief    Egypt's GASC to pay on-sight for wheat in international tenders    Marie Louis, BTM, bring nostalgia, Egyptian wealth to Winter Season    Spanish taxi drivers resume protests against app services    Streetwise Axel Witsel fills Marco Reus' boots as Borussia Dortmund prove title credentials    Op-ed review: Political rehabilitation, Ismaili's crowd trouble    Art Alert: Nouran Abutaleb to sing at Air Defense House    Total lunar eclipse meets supermoon Sunday night    Britain's Prince Philip warned by police over seat belt, two days after crash    Prosecutors request seizing funds of Gamal, Alaa Mubarak in ‘manipulation of stock market' case    Australian Open: Alexander Zverev scrapes through in five-set thriller    Sectarian-related crimes to be addressed in State Security Emergency Courts    Ministry of Interior kills 5 alleged extremists in Al-Arish    Newsreel    Egypt's president issues decree regulating travel of senior officials on state business    Egypt parliament approves extending state of emergency for another three months    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





European stocks closes higher amid US-China trade optimism; British PM faces confidence vote
Published in Amwal Al Ghad on 13 - 12 - 2018

European stocks closed higher on Wednesday, after President Donald Trump said he was upbeat about the chances of securing a trade deal with China.
Meanwhile, sterling climbed away from 20-month lows on news that British Prime Minister Theresa May will face a vote of no-confidence from members of her own Conservative party later in the day.
The pan-European Stoxx 600 closed provisionally up by 1.69 percent, with all sectors and major bourses in positive territory.
Europe's basic resources stocks, with their heavy exposure to China, were the top performers Wednesday afternoon, up 2.84 percent after Trump said he would not raise tariffs on Chinese products until he was sure about a deal. BHP Group, Boliden and Rio Tinto were all traded higher on the news.
Looking at individual stocks, shares in Germany's biggest lenders Deutsche Bank and Commerzbank have risen 5.81 percent and 5.61 percent respectively after a report that the German government is conducting high-level discussions to smooth the path for a possible merger.
France's Pernod Ricard was also among the top gainers in Europe. Its shares surged after the company said senior management had held talks with Elliott Management, following reports that Paul Singer's activist hedge fund had taken a stake in the drinks firm. The stock surged 5.91 percent and hit a fresh record high.
Meanwhile, Danish jewelry maker Pandora slumped to the bottom of the index after Carnegie reportedly cut its price target for the firm by 7 percent Wednesday morning. It comes after weak sales momentum for the Copenhagen-listed company, with its shares tumbling 11.51 percent.
UK leadership challenge
Market focus is largely attuned to global trade developments, after Trump confirmed talks between Washington and Beijing were still ongoing.
In an interview with Reuters on Tuesday, Trump also said he would intervene in the Justice Department's case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks.
Trump's comments on a potential deal with China also translated into gains in equity markets stateside, with the Dow Jones Industrial Average climbing more than 300 points at the open. Investor sentiment was also buoyed by a report that China is looking to increase access to its market for foreign companies, in a bid to improve U.S.-China trade relations.
Back in Europe, investors continued to monitor deepening political turmoil in the U.K. It comes amid an intensifying backlash against May's leadership while she tries to salvage her Brexit deal.
The threshold of support needed to trigger a confidence vote in the prime minister was reached Tuesday evening, according to Graham Brady, chairman of the Conservative Party's '1922 Committee', a group of influential backbench members of parliament (MPs).
The vote is scheduled to take place Wednesday evening between 6 p.m. and 8 p.m. London time.
Sterling initially fell into negative territory on the news, before jumping 1.4 percent higher to around 1.2659 against the U.S. dollar.
Source: CNBC


Clic here to read the story from its source.