Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

MarketPulse Europe: Stocks Pulled Higher By Trump's Double Boost

Published 02/13/2019, 03:49 AM
Updated 02/13/2019, 03:49 AM
© Reuters.

© Reuters.

Investing.com -- Stock markets in Europe are following the U.S. and Asia higher after comments from U.S. President Donald Trump gave cause for optimism on two grounds.

Trump indicated Tuesday that not only is it unlikely that the federal government will shut down again, but that he may also push back a March 1 deadline for imposing new tariffs on Chinese imports if he sees enough progress in talks on China’s trade practices.

By 04:05 AM ET (0905 GMT), the benchmark Stoxx 50 was up 0.4% at 3,202.25. Germany's Dax index was up 0.5% at 11,175.45, while the U.K. FTSE 100 was up 0.4% at 7,164.41.

Markets registered broad gains across the region, with resource companies doing well as traders revised up their expectations for Chinese commodities demand. Miners Antofagasta (LON:ANTO), BHP Billiton (LON:BHPB) and Glencore (LON:GLEN) all added over 1.2% in London.

Asset manager Amundi (PA:AMUN) stood out in Paris, rising 4.9% after reaffirming its profit target for 2019 despite a torrid final quarter to 2018 in which its assets under management fell 3% to 1.4 trillion euros ($1.6 trillion).

Another big winner was Dutch brewer Heineken (AS:HEIN), which rose 5% after a strong fourth quarter helped by sales of its alcohol-free brew 0.0. The stock has now risen 13% in the last three weeks.

Across town in Amsterdam, though, investors in ABN AMRO (AS:ABNd) were needing something stronger than 0.0 to recover from a shocking fourth quarter hit by loan impairments and rising costs. The bank's earnings fell 42% in the fourth quarter to 316 million euros.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.