European Stocks Open In Positive Territory As Trade Uncertainty Persists; Munich Re Down 5%
European stock markets opened in positive territory on Tuesday (5/13) as uncertainty over the global trade outlook persisted despite a 90-day pause in the tariff dispute between the U.S. and China.
The pan-European Stoxx 600 was
0.26% higher at 8:15 a.m. in London. The U.K.’s FTSE 100 was
0.12% higher, France’s CAC 40 was
0.06% higher and Germany’s DAX was up 0.16%.
This comes after global markets rallied on Monday following news that Washington and Beijing had agreed to cut high tariffs for 90 days, raising hopes that a full-blown trade war could be averted.
Asia-Pacific markets traded mixed overnight, however, providing a more pessimistic tone for European markets, as questions remain over what could happen after the 90-day pause.
Meanwhile, U.S. stock futures fell in overnight trading as investors awaited fresh U.S. inflation data ahead of Thursday’s producer price index data.
European markets will be watching earnings from SoftBank, Tata Motors, Nissan, Honda, Metro Bank and Bayer. Data releases include U.K. retail sales and unemployment figures. Germany’s ZEW economic sentiment survey is also due. (Newsmaker23)
Source: CNBC
