Europe rises for first session in 6 as G20 summit starts

Economies.com
2019-06-28 09:26AM UTC

European shares rose early on Friday in the last session of the week, making their first gain in the last six sessions, due to a strong rise in the banking and technology sectors, while this comes after the start of the G20 summit in Osaka, Japan, which may see progress in trade talks between the United States China.

 

Stoxx Europe 600 rose by 0.3% at 08:57 GMT, while the index ended yesterday's session flat, after losses that lasted four consecutive sessions on investors' risk aversion.

 

The index rose early on Friday in the last session of the week, achieving the first gain in six sessions, with most of Europe's major stock exchanges and sectors in the positive region.

 

The banking and technology sectors are the top gainers in Europe, with a gain of more than 1% after strong gains on Wall Street.

 

Deutsche Bank index jumped more than 3.5 percent after Germany's biggest bank passed the annual check of the Federal Reserve in the United States.

 

The G20 summit, attended by leaders of the group, kicked off today in Osaka, Japan, to discuss how to support the global economy and solve the problems that hinder the freedom and movement of world trade.

 

A separate meeting between US President Donald Trump and Chinese leader Xi Jinping is set to take place on Saturday, where everyone hopes the meeting will bring a breakthrough in trade talks to end the trade war between the world's two largest economies.

 

S&P 500 futures rose by more than 0.2%, and the index ended yesterday's session on Wall Street, up by 0.4%, in the first gain in the last five sessions, due to the rise in shares of banks and technology companies.

 

Euro Stoxx 50 rose 0.3%, while in France, the CAC 40 index rose 0.1%. with Germany's DAX rising by 0.5% to top the gainers list in Europe, and in London the FTSE 100 added 0.2%.

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