Europe closes higher as trade worries ease

Markets 9/14/2018, 5:32 PM
Europe closes higher as trade worries ease

European stock markets closed higher on Friday after some indications the United States and China could avoid further escalations in their trade war. Meanwhile, euro area labor costs increased 2.2% in the second quarter of the year, while the trade surplus was reported at €17.6 billion in July. In Brexit news, Bank of England Governor Mark Carney warned on Thursday a no-deal Brexit could lead to a financial crash, but later stated the largest British banks can withhold "a wide range" of options concerning the United Kingdom's exit from the European Union.

The FTSE 100 close gaining 0.34%. TUI AG jumped 4.03%.

The DAX ended the trading day 0.63% in the green. Bayer AG led the gains with 2.38%.

The CAC 40 rose 0.51% as Valeo added 4.82%.

The euro traded 0.24% lower compared to the dollar and sold for $1.16616 at 5:30 pm CET, while the pound was 0.18% lower against the dollar and went for $1.3082.

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UK 100 Index+1.24%

6,997.00
Chart for: UK 100 Index

EUR/USD+0.13%

1.1384
Chart for: EUR/USD Spot

Germany 30 In...+0.86%

11,137.00
Chart for: Germany 30 Index

France 40 Ind...+0.79%

4,948.25
Chart for: France 40 Index