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European Markets Appreciate as US-Mexico Deal Boosts Optimism

By Investors Hub

European stocks are mostly higher on Tuesday as the U.S.-Mexico trade deal has helped boost optimism for an easing of global trade tensions.

While the German DAX Index has edged up by 0.2 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both up by 0.4 percent.

The pound hit a one-year low versus the euro after British Prime Minister Theresa May said that leaving the EU with no agreement in place ?wouldn’t be the end of the world.?

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Lloyds Banking Group has moved to the upside after completing a 1 billion pound share buyback program.

NMC Health has also jumped after the British healthcare provider denied media reports regarding an acquisition of assets in India.

Melrose Industries has also rallied. The turnaround group behind the hostile takeover of engineering group GKN has put the sale of Ergotron on hold, the Financial Times reported.

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Danish brewer Royal Unibrew has surged higher after the company achieved the best half-year results in the company?s history.

Meanwhile, lender Sydbank has slumped after unveiling its second-quarter earnings results.

In economic news, French consumer confidence held steady for the second straight month in August, in line with expectations, survey data from the statistical office Insee showed.

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The consumer sentiment score came in at 97 in August, the same as in the previous two months.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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