European shares lifted higher on solid earnings’, trade optimism


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European shares lifted higher on solid earnings’, trade optimism

On Wednesday, the 31st of July 2019, a flurry of upbeat quarterly earnings’ reports from European heavyweights alongside hopes of a US-China trade deal soared a majority of European bourses, ahead of a Fed rate cut.

Nevertheless, later on Wednesday, Fed slashed rate cut by 25-basis points as expected, that seemed to have poured scorns on Wall St., as all three key indexes of Wall St. dropped more than 1 percent on Wednesday’s market closure, while analysts were quoted saying following Fed rate cut that European markets would likely to echo the leads of Wall St.

on Thursday (August 1st ), and bearing the brunt of Wall St., a majority of European bourses might open Thursday’s (August 1st) market lower. Despite a hesitant start-off of the day, the regional Pan-European STOXX 600 added 0.2 percent, rebounding from its largest intra-day plunge on Tuesday (July 30th).

Aside from that, Frankfurt’s DAX-listed stocks heavily exposed to Chinese exports, lifts the German bourse higher after US and China both had labelled their latest leg of face-to-face trade talk constructive. Quoting statistics, on Wednesday’s (July 31st) market closure, London’s FTSE 100 posted a plunge of 0.78 percent to wrap up the day at 7,586.78, while French CAC 40 added 0.14 percent to settle down at 5,518.90, meanwhile US-China trade talk optimism soared Germany’s DAX 0.34 percent to 12,189.04.