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2/13, 9:16 AM (Source: TeleTrader)
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Europe opens higher amid US-China trade deal hopes

Eurozone stock markets traded in the green at the open on Wednesday as market watchers monitored the latest developments surrounding Brexit and the ongoing US-China trade talks. As the Brexit day approaches, Prime Minister Theresa May stated on Tuesday that the extension of Article 50 and the consequential delay of the United Kingdom's exit from the European Union will serve no purpose, while the British Chambers of Commerce warned that the uncertainty regarding the Brexit process is causing damage to businesses. When it comes to trade negotiations, it was reported that Chinese leader Xi Jinping is scheduled to meet the US delegation on Friday in a bid to end the trade dispute between Washington and Beijing. On the data front, investors are expecting the latest inflation and industrial production figures for the UK and Eurozone.

The DAX opened 0.45% higher led by Covestro's shares soaring 3.29%, the CAC 40 rose 0.35% as Kering jumped 2.51%, while the FTSE 100 advanced 0.29% thanks to Smith PLC rising 2.32%. The euro lost 0.14% against the greenback, buying 1.1316 at 9:13 am CET, while declining 0.16% against the British pound to go for 0.8773 at the same time.

Breaking the News / GG