3/19, 2:17 PM (Source: TeleTrader)
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Stocks in EU hit October highs in wide rebound

Risk appetite in the markets increased on Tuesday, helped by favorable tones from Germany with regard to Brexit. Also, unemployment in the United Kingdom fell to 3.9% in January, the lowest level in 44 years. Minister of State for Europe Michael Roth expressed determination to prevent a divorce without an arrangement and Minister of Foreign Affairs Heiko Maas hinted at reopening negotiations. Chancellor Angela Merkel said she would work to achieve a smooth departure for Britain. Furthermore, she excluded the possibility of interference with negotiations about a merger of Deutsche Bank and Commerzbank.

The FTSE 100 jumped 0.54% to 7,338.92 points at 1:45 pm CET after touching 7,348.49 for the first time since October 5. The German DAX was 1.19% in the green at 11,795.38 points, last seen on October 17. The CAC 40 advanced 0.51% in Paris to 5,440.47 compared to the session high of 5,443.1 points, a record since October 4. The price movement was also underpinned by a rise in oil prices.

The euro added 0.19% at 2:15 pm CET to trade at $1.13586 and remained flat at £0.85538. The pound rose 0.19% to $1.32806 and gold jumped 0.54% to $1,310.52 per ounce.

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