Euro Stock Market Expected to Edge Higher Amid Trade Talks

Euro Stock Market Expected to Edge Higher Amid Trade Talks

LONDON, U.K. – European stock market is expected to edge higher in today’s trading session amid the long-standing Us-China trade negotiations.

From the previous positive sentiments taken from statements from both the US and Chinese officials that an agreement on the trade talks is likely to be signed before the year ends, it has powered up the global stocks early this week. Further, the recent phone call talking about trade, which happened Tuesday morning, is further increasing the hopes of market players.

The FTSE 100 index of UK tracked up to 15 points increase, going towards 7,409 points. The DAX index in Germany was also seen with a 23 points rise, going towards 13,268 points. The CAC index in France, although modest, also tracked an additional 4 points towards 5,932.

The expected highs for the Euro stocks this trading session are more likely powered up by the increasing optimism on the trade agreement. According to the Ministry of Commerce in China, officials from both the US and China held another phone call to discuss further resolving the core issues that have derailed phase one of the trade agreement. The call early on Tuesday was between Robert Lighthizer, the US Trade Representative, Steven Mnuchin, Treasury Secretary, and the Vice Premier Liu He of China.

The recent news about the trade phone call has also boosted the stock market all over Asia, while market players also remained on their toes about the strong Hong Kong debut of Alibaba with the MSCI Asia ex-Japan index inching higher by about 0.2%.

Back on Euro stocks, the trading session is expected to be filled with bullish sentiments. The stock market is also patiently waiting on the general election that is expected to takes place on December 12. According to some reports based on an election poll made by the ICM for Reuters, the Conservative Party of the British Prime Minister Boris Johnson is seeing the lead against the Labour Party of the oppositions lowering to about seven points during the past week.

On the other hand, for corporate news, Just Eat, a massive food delivery service company in the UK, has urged all its shareholders to decline and set aside the takeover offer made by Prosus, which is about $6.3 billion. According to reports, the food delivery firm cited another offer from Takeaway.com as the reason for investors to not be easily swayed by the first offer from Prosus. Just Eat has also reportedly told its investors that the proposal from Takeaway.com is significantly a much better deal.

Give a Comment