10/29/2018, 9:02 AM (Source: TeleTrader)
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Europe starts higher after German local election

European markets started the trading day on Monday in the green, after Angela Merkel's Christian Democratic Union (CDU) suffered a blow in the local election in Hesse. Investors are also digesting earnings reports by HSBC, and awaiting the announcement on the United Kingdom budget coming later in the day.

The DAX started 0.52% higher. Pharmaceutical company Merck Group was the best performer, jumping 2.02%.

The FTSE 100 opened 0.42% in the green. HSBC led the gains, surging 4.60% after better-than-expected earnings report.

French CAC 40 was up 0.28% at the opening bell.

The Euro Stoxx 50 increased by 0.37%. Intesa Sanpaolo was up 3.02%, outperforming others.

Both the euro and the British pound were flat against the dollar at 9:04 am CET, selling for $1.14076 and $1.2829, respectively.

Breaking the News / NI