Ukraine, Egypt explore preferential trade deal: Zelenskyy    Egypt, Russia's Rosatom review grid readiness for El-Dabaa nuclear plant    Mastercard Unveils AI-Powered Card Fraud Prevention Service in EEMEA Region, Starting from Egypt    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    China's factory output expands in June '25    Egyptian pound climbs against dollar at Wednesday's close    New accords on trade, security strengthen Egypt-Oman Relations    Egypt launches public-private partnership to curb c-sections, improve maternal, child health    Gaza under Israeli siege as death toll mounts, famine looms    EMRA, Elsewedy sign partnership to explore, develop phosphate reserves in Sebaiya    Philip Morris Misr announces new price list effective 1 July    Egypt Post discusses enhanced cooperation with Ivorian counterpart    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt in diplomatic push for Gaza truce, Iran-Israel de-escalation    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt, Tunisia discuss boosting healthcare cooperation        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    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    







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



European markets set for cautious open as investors focus on geopolitics, trade
Published in Amwal Al Ghad on 17 - 09 - 2019

European markets looked set for a cautious open Tuesday as investors monitor the fallout from the weekend's Saudi oil attacks.
The FTSE 100 was seen around 5 points lower at 7,316, the DAX was expected to slip around 5 points lower to 12,375 and the CAC 40 was seen nudging 1 point down to 5,601, according to IG data.
Oil prices pared some of Monday's massive gains on Tuesday morning after the U.S. signaled intent to release crude reserves, but the lingering threat of military confrontation kept investor confidence relatively low.
U.S. President Donald Trump said on Monday that it was likely Iran was behind the attacks on oil plants, expected out 5% of global crude supply, but stressed that he did not want to go to war. Iran has rejected U.S. charges it was behind the attacks, while President Hassan Rouhani suggested it was a reciprocal response from Yemen's Houthi rebels.
The U.S. Trade Representative's office said on Monday that deputy-level talks between the world's two largest economies are set to start in Washington on Thursday, paving the way for high-level talks in October intended to resolve the drawn out trade war.
Stocks in Asia traded mostly lower Tuesday as sentiment remained cautious amid the geopolitical uncertainty in the Middle East.
Back in Europe, British Prime Minister Boris Johnson on Monday avoided a press conference with Luxembourg Prime Minister Xavier Bettel amid loud protests, Johnson had said a Brexit deal was emerging, but the EU insisted Johnson had still offered nothing to break the impasse between the two on the controversial Irish backstop.
Johnson also faces a legal challenge in Britain's top court this week, after Scottish judges ruled that his decision to suspend parliament until October 14 was unlawful.
In corporate news, shares of Airbus and French luxury goods importers tumbled on Monday after the World Trade Organization (WTO) approved a U.S. request to impose tariffs on European goods, amid a long-standing battle over aircraft subsidies
Italy's industry ministry has postponed the deadline for the delivery of a rescue plan for Alitalia to October 15, meaning loss-making carrier will remain in special administration.
German lighting group Osram Licht has advised shareholders to accept a 4.3 billion euro ($4.8 billion) bid for the company from Austrian chipmaker AMS.
On the data front, German economic sentiment and current conditions surveys for September are due for release at 10:00 a.m. London time, along with euro zone survey expectations.
Source: CNBC


Clic here to read the story from its source.