Finance Ministry presents three new investor facilitation packages to PM to boost investment climate    Egypt, Bahrain explore deeper cooperation on water resource management    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt expands medical, humanitarian support for Gaza patients    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    African trade ministers meet in Cairo to push forward with AfCFTA    Egypt's President, Pakistan's PM condemn Israeli attack on Qatar    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Madrid trade talks focus on TikTok as US and China seek agreement    Egypt wins Aga Khan Award for Architecture for Esna revival project    Egypt's gold prices hold steady on Sep. 15th    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    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    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 harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    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 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


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