Egypt, Italy sign agreements to establish 89 applied technology schools    MSMEDA discusses extending technical cooperation with JICA    Suez Canal Economic Zone receives 24 new cranes for Hutchison's automated Sokhna terminal    Egypt, Algeria agree to deepen strategic ties, coordinate on Gaza ceasefire, regional crises    FM pushes for deeper US investment and outlines Egypt's Gaza and Nile red lines in AmCham address    Gaza struggles under fragile truce as Egypt plans reconstruction conference    Egypt calls for deeper health, pharmaceutical partnership with Türkiye    Egypt's Sisi reaffirms strategic energy partnership with Eni    Chinese investment drives 50% of $11.6b in Egypt's SCZONE – chair    Egypt's stocks end mostly in red on Tuesday, 25 Nov., 2025    Ahl Masr Hospital Launches Region's First Burn Care Conference    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt, Qatar discuss expanding health cooperation, Gaza support    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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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