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7/19, 9:24 AM (Source: TeleTrader)
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Stocks in EU moderately higher on US rate cut hint

The euro and the pound were slightly lower against the dollar on Friday early into the session on major equity exchanges in Europe. Indexes advanced as John Williams, president and chief executive of the Federal Reserve Bank of New York, yesterday argued for lowering interest rates in times of turbulence. The institution later claimed his statement is the result of academic research and not monetary policy stance.

Of note, Microsoft's turnover surged 12.1% year on year in the past quarter. Concerns about the health of the Eurozone's economy increased with Germany's factory gate inflation update. Oil climbed following a claim by United States President that one of its military ships shot down an Iranian drone, a claim rejected by the government in Tehran.

The FTSE 100 was 0.63% higher in London at 9:21 am CET. The German DAX benchmark rallied 0.57%, led by Wirecard's 2.36% jump. The CAC 40 gained 0.68% as STMicroelectronics climbed 1.79% to the top of the chart. Gold fell 0.54% to $1,438.13 per ounce after reaching 1,449.15 for the first time since May 2013. The joint currency slipped 0.16% to $1.12592 and rose just 0.06% to £0.89917. Sterling weakened 0.2% to $1.25209.

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