TELETRADER News
10/22/2018, 9:04 AM (Source: TeleTrader)
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Europe opens higher with Italian budget, Brexit in focus

European stock markets started the Monday trading session with gains ahead of the Italian government's response to a letter sent by the European Commission regarding the country's 2019 budget plan. The government in Rome is reportedly set to go forward with the planned 2.4% deficit despite earlier expectations that government leaders and deputy prime ministers Luigi Di Maio and Matteo Salvini would alter the deficit for 2019 to 2.1%.

Regarding Brexit, United Kingdom's Prime Minister Theresa May is expected to address the House of Commons later today, where she is reportedly set to tell MPs that 95% of the withdrawal agreement is ready. Meanwhile, Irish Foreign Minister Simon Coveney said that there would be no Brexit deal without a backstop for the Irish border issue.

The FTSE 100 started the session 0.30% higher, with Nmc Health the best performer. The DAX began with a 1% gain, pushed up by Lufthansa. Meanwhile, the CAC 40 added 0.84% to open the trading day in the positive territory, with Kering contributing the most. Italian FTSE MIB surged 1.70% at the opening bell, Salvatore Ferragamo leading the way.

The euro was 0.25% higher against the dollar to sell for 1.1542 at 9:04 am CET, while the pound added 0.07% versus the US currency to go for 1.3077 at the same time.

Breaking the News / FH