Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

StockBeat - Europe at Eight-Month Highs as Brexit, Trade Clouds Lift

Stock MarketsApr 05, 2019 09:45
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Geoffrey Smith

Investing.com -- Europe’s stock markets are on course to end the week at their highest levels in eight months, supported by the still-elusive prospect of a trade deal between China and the U.S., and by confidence that a disruptive Brexit can still be avoided.

But trading is thin and there are few big moves to report, with most participants content to sit and wait for the U.S. employment report at 08.30 AM ET (12:30 GMT).

After the first hour of trading in Europe, the benchmark Stoxx Europe 600 was up 0.1% at 388.26, while the FTSE 100 was up 0.2% and Germany’s Dax was effectively unchanged.

The Dax had traded over 12,000 for the first time since October on Thursday, pulled upwards by hopes that the two big external risks to its export-sensitive economy would soon clear. However, better-than-expected industrial production data for February, published earlier Friday, have been unable to push it any higher.

The 0.8% rise in monthly output was overwhelmingly due to construction, which offers some evidence for the argument that domestic demand is strong enough to ride out the current rough patch for the export sector. However, the German economy has rarely been able to grow strongly in the past without a big contribution from its manufacturers, and their output slid another 0.2% last month.

“German data continues to puzzle,” Oxford Economics analyst Oliver Rakau said via Twitter. “Yesterday, horrendous factory orders indicated that tumbling external demand could push industry into recession. But today’s industrial production numbers support our view that the economy is in for a very solid Q1.”

In London, stocks continue to be in a holding pattern after Prime Minister Theresa May asked the EU for a further short extension of the deadline for the U.K. to leave the European Union to June 30, while she and opposition leader Jeremy Corbyn continue talks on finding a cross-party alternative to her three-times defeated Withdrawal Agreement.

It's not clear whether the EU will accept the latest proposal, given that it has insisted that the U.K. take part in European parliamentary elections in May if it is still a member of the union. May said the country would prepare to take part in the elections, while reserving the right to cancel them if parliament can approve an alternative course in the meantime.

StockBeat - Europe at Eight-Month Highs as Brexit, Trade Clouds Lift
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email