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European Shares Appreciate as Brexit Worries Ease

By Investors Hub

European stocks have moved notably higher on Friday and remain on track to post their best weekly gain in a month, as Brexit-related worries ease and investors remained hopeful for a U.S.-China trade deal.

The strength in the markets also comes after U.K. lawmakers voted to postpone the country’s departure from the European Union, giving Prime Minister Theresa May some breathing space.

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While the U.K.?s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index and the German DAX Index are both up by 0.9 percent.

Restaurant Group has soared in London. After posting a drop in annual profits, the company said its controversial takeover of Wagamama would prove “transformative.”

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Berkeley Group Holdings has also advanced. The builder of homes, neighborhoods and communities said its trading environment remains consistent with that experienced over the last two years.

Automakers BMW and Daimler have also moved higher in Frankfurt after industry data showed February car sales grew 2.7 percent in Germany following months of decline.

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On the other hand, Hennes & Mauritz has slumped after the Swedish fashion retailer said its first-quarter net sales increased by 10 percent. Sales grew by 4 percent in local currencies.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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