European shares five-month high on Brexit optimism & trade talk hope


by   |  VIEW 169
European shares five-month high on Brexit optimism & trade talk hope

On Friday, the 15th of March 2019, the European shares had experienced a broadened rally, revamped by positive signs of US-China trade talk and an aversion of no-deal Brexit catastrophe. The Pan-European STOXX posted its biggest gain a month, gaining over 0.70 percent on Friday (March 15th), and closed the day at its highest levels since October 4th.

All major European indexes had been in the greens, while Paris posted the largest gain of 1 percent. London’s FTSE 100 posted a gain of 0.6 percent despite a robust Great Britain Pound and a nosedive of Euro against British Currency below 0.8550 pence per euro.

Never the less, London stocks were mostly buoyed by the heavyweight energy stocks and boosted by a higher crude oil price, which reached fresh yearly high yesterday (March 14th). Frankfurt’s trade-sensitive DAX 30, added 0.85 percent after Chinese state press agency had posted progress over the trade talks.

Given the uncertainty over the outcomes of next week’s Brexit vote, where PM May would likely to call for a third vote for her amended Brexit deal and critical talks between London and Brussels, the gains seemed to be an over-exaggeration, as a deputy chief investment officer at asset manager Brooks McDonald, Edward Park said, “There are still quite a lot of moving parts (to Brexit)”.