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5/10/2019, 9:21 AM (Source: TeleTrader)
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Europe starts higher as new US tariffs take effect

Stock markets across Europe were up in the early trading moments on Friday as traders digested the latest developments in US-China trade dispute. Shortly after the additional tariff hike kicked in, Beijing promised to retaliate against Washington, saying that "necessary countermeasures" will have to be taken, although it failed to precise how it intends to reciprocate.

On the data front, investors are likely to react to the newest economic data due later in the day, including United Kingdom's trade balance, gross domestic product and industrial production figures.

In Germany, the DAX jumped 1.06% shortly after the opening bell as Thyssenkrupp soared 6.19%.

At the same time, the French CAC 40 was 1.0% up with EssilorLuxottica led the gains advancing 3.21%.

The FTSE 100 also recorded gains, rising 0.57%, thanks to International Consolidated Airlines' shares sprung 3.82%.

The euro rose 0.13% against the dollar, changing hands for 1.1229 at 9:18 am CET, while the pound added 0.06% against the greenback, to go for 1.3015 at the same time.

Breaking the News / GG