European shares climb higher on rate cut, Sino-US trade optimism


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European shares climb higher on rate cut, Sino-US trade optimism

On Thursday, the 4th of July 2019, a basket of major European shares had been well-poised to post gains, while the regional benchmark index of European shares, STOXX 600 had been up for sixth straight sessions in a row. While this report was being prepared, late-morning European trading hours, the Pan-European STOXX 600 was up by 0.1 percent, while the eurozone STOXX added 0.2 percent, a day after both of the indexes breached their 2019 high over hopes that France’s Lagarde, head of International Monetary Fund, would likely to become ECB Chair Draghi’s successor and keep the monetary policy as dovish as it had been under Draghi.

So far, on Thursday’s (July 4th) European markets, tracking Wall Street’s record closure yesterday (July 3rd), which had experienced an all-time-high closure of all of its three key indexes, London’s FTSE 100 added 0.13 percent to 7.619.51, Frankfurt’s trade sensitive DAX added 0.11 percent to 12,630.63, while French CAC 40 gained 0.04 percent to 5,620.85.

Telecommunication sector had been the most upbeat with a gain of 0.52 percent so far on Thursday’s (July 4th) market, while and Italy’s FTSE MIB had opened higher after breaching a fresh two-months peak yesterday (July 3rd).