European Markets End the Day with a Green Hue, Investors Hope for a Resolution in Ukraine and US-EU Trade Dispute
European stocks ended the day in a positive note, with the Dax index closing 0.5 percent higher at around 24,060 points, a slight increase from the previous day’s close. The top gainers of the day were RWE, Siemens Energy and FMC, while the laggards were BASF, Sartorius and Allianz.
Market expert Andreas Lipkow attributed the optimistic sentiment to investors’ hopes for a resolution in the Ukraine conflict and a trade agreement between the US and the European Union. “The downgrade of the US rating has been quickly and quietly absorbed” Lipkow said, adding that the consequences of this development will be interesting to follow.
The market expert also observed a trend of cautious and selective trading, which is typical for the beginning of a new month. “The trading volume remains thin and it does not support the current record high levels” Lipkow noted.
Meanwhile, the euro strengthened against the US dollar, with one euro equivalent to 1.1247 US dollars and one dollar worth 0.8891 euros. The Brent crude oil price, however, declined, with a barrel of the North Sea variety trading at 65.35 US dollars at around 12 pm CET, a 0.3 percent drop from the previous day’s close.