European stocks rise near 4-year peek on hopes US will delay EU cars tariffs

2019-11-12 13:08:40 GMT (Economies.com)
European stocks rise near 4-year peek on hopes US will delay EU cars tariffs

European stocks rose on Tuesday, to resume gains after dropping for 2 days on profit taking, to climb near the 4-year high again, buoyed by hopes that the US will delay imposing new tariffs on the European Union's vehicles.

 

Stoxx Europe 600 rose by 0.4% as of 11:20 GMT, as it closed lower by 0.1% yesterday, in its second straight daily loss, on profit-taking from a 4-year high. 

 

The index opened today's session higher, to head for its first daily gain in 3 days and climb near the highest level since July 2015, with most of the major European exchanges and sectors seeing green today.

 

The automotive sector saw the largest gains in Europe today, lifted after reports about a US delay to EU auto tariffs.

 

The reports showed that the US President Donald Trump will announce a 6-month delay for imposing new tariffs on European Union vehicles later this week, in his efforts to avert another damaging dispute with a major US trading partner.

 

Investors are anticipating President Trump's speech by 17:00 GMT at the Economic Club in New York.

 

Trump recently tweeted about the US economic growth in his era and that forecast another record highs for US stocks.

 

S&P 500 futures rose by 0.2% today, after it closed lower by 0.2% yesterday at Wall Street, to mark the first daily loss in 4 days on profit-taking.

 

Back to Europe, the Euro Stoxx 50 index rose by 0.4%, the German DAX rose by 0.7%, France's CAC 40 rose by 0.3%, and in London, the FTSE 100 rose by 0.4%

 
 
 
  Symbol Last Change Chg.%
1.1136
0.0074
0.6644%
1.3173
0.0036
0.2748%
Tadawul
8005.77
-127.95
1.57%
16.898
0.326
1.968%
59.015
-0.095
0.161%
64.19
0.47
0.74%
1477.070
17.225
1.180%
 
 
US
 
Europe
 
Asia