Europe's Stocks rise for first session in 3 ahead of ECB meeting

2019-04-10 12:29:47 GMT (
Europe's Stocks rise for first session in 3 ahead of ECB meeting

European Stocks rose on Wednesday's trading, for the first time in three sessions, but gains remain limited as investors await the results of the European Central Bank's monetary policy meeting, as well as an emergency summit meeting of European leaders to decide on the UK's departure from the European Union.


By 10:50 GMT, Stoxx Europe 600 rose by more than 0.3%, as it ended yesterday's session 0.3% lower in the second daily losing streak, on fears of a trade dispute between the EU and the United States.


US President Donald Trump on Tuesday threatened to impose $11 billion in tariffs on EU products, adding to tensions in the long-running transatlantic dispute.


Stoxx Europe Index rose on Wednesday morning with most of the major stock exchanges and sectors in the Green Zone.


The retail sector was the top gainer in Europe, with a gain of more than 0.5%, after groceries and general merchandise retailer, Tesco, reported a 34% rise in profit, exceeding experts' expectations, with Britain's largest retailer index rising by 1%.


the European stocks' gains remain limited so far as investors await the ECB's monetary policy meeting on interest rates decision and monetary policy release by 11:45 GMT, as well as the bank governor, Mario Draghi, comments in 12:30 GMT.


The International Monetary Fund (IMF) sharply reduced its forecast for the global economic growth in 2019, which increased pressure on monetary policymakers of the ECB.


S&P 500 futures rose by more than 0.2%, as the index ended yesterday's session on Wall Street down 0.6%, the first loss in five sessions, on correction and profit taking.


Euro Stoxx 50 index gained 0.4%. while in France, CAC 40 index rose by 0.4% as Germany's DAX added more than 0.4%.


Meanwhile, in London, FTSE 100 index gained 0.1% after European Union President Donald Tusk said the union was considering giving the UK a flexible Brexit deadline for up to a year.


Tusk's comments came ahead of the emergency summit of European leaders in Brussels, where a decision is to be made on Britain's request for a further postponement of the country's separation from the European Union.

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