EHA launches national telemedicine platform with support from Egyptian doctors abroad    Madbouly reviews strategy to localize pharmaceutical industry, ensure drug supply    Egypt's real estate market faces resale slowdown amid payment pressures    Al-Mashat tells S&P that Egypt working to reduce external debt, empower private sector    Cairo's real estate market shows resilient growth as economy stabilizes: JLL    Egypt inks $121m oil, gas exploration deals with Apache, Dragon Oil, Prenco    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt renews call for Middle East free of nuclear weapons، ahead of IAEA conference    Egypt's EDA, Korean pharma firms explore investment opportunities    Egypt's FM heads to Doha for talks on Israel escalation    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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European markets to open higher as trade tensions ease
Amwal Al Ghad Published in Amwal Al Ghad on 10 - 06 - 2019

European markets are set to open higher Monday after U.S. President Donald Trump announced that proposed tariffs on Mexican imports would be suspended indefinitely.
The FTSE 100 is seen around 33 points higher at 7,365, while the DAX is expected to open up around 69 points at 12,114 and the CAC 40 is projected to climb around 18 points to 5,382.
Trump pulled back from kickstarting another trade war last week, saying in a Twitter post Sunday that he has "full confidence" that Mexico will crack down on migration from Central America, after the two neighbors reached a consensus. The New York Times reported Saturday that the deal to avert tariffs largely comprised actions Mexico had already agreed to take.
Stocks in Asia traded higher Monday on the news, Hong Kong's Hang Seng index surging 2.03%, after official Chinese trade data for may beat forecasts and showed an overall trade surplus of $41.65 billion for the month.
U.S. Treasury Secretary Steven Mnuchin, a lead negotiator in trade talks with China, told CNBC on Sunday that Trump will decide whether to implement more tariffs on China after meeting with Chinese President XI Jinping later in June.
G-20 finance leaders on Sunday said that trade and geopolitical tensions have intensified, raising risks to improving global growth, but they stopped short of calling for a resolution of the deepening U.S.-China trade conflict.
Back in Europe, April trade, GDP and industrial data for the U.K. is expected to be released at around 9.30 a.m. BST. The U.K. has also agreed a preliminary free trade agreement (FTA) with South Korea, which seeks to maintain existing trade arrangements post-Brexit. Meanwhile, Conservative party candidates are ramping up their campaigns to replace Prime Minister Theresa May, who resigned as leader of her party on Friday.
In corporate news, Reuters reported that Fiat Chrysler and Renault are seeking ways to resuscitate their collapsed merger and secure the approval of Renault's alliance partner Nissan.
No major earnings releases are due in Europe Monday.
Source: CNBC

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