European markets were mostly in the green on Tuesday, after Chinese government officials outlined plans to boost the country’s sluggish economy.
In the U.K., politicians are preparing to vote on Prime Minister Theresa May’s contentious agreement for leaving the European Union in March.
How are the markets trading?
Most of Europe’s major indexes were up on Tuesday, with the Stoxx Europe 600
SXXP, +0.10%
adding 0.2% to 348.17, after finishing down 0.5% on Monday.
France’s CAC 40
PX1, +0.12%
added 0.2% to 4,771.90, the U.K.’s FTSE 100
UKX, +0.17%
was up 0.2% to 6,867.72 and Germany’s DAX
DAX, +0.29%
gained 0.1% to 10,869.37.
Italy’s FTSE MIB
I945, -0.57%
index was the biggest regional loser on Monday, dropping 0.4% to 19,090.60.
The euro
EURUSD, -0.3574%
dropped to $1.1436 from $1.147 and the British pound
GBPUSD, -0.2099%
last bought $1.2874, slightly higher than $1.2866 late Monday.
What is driving the markets?
In China, government officials have stepped up efforts to spur economic growth amid signs the country’s economic slowdown is deepening. Beijing intends to improve credit availability for smaller companies, accelerate infrastructure investment and cut taxes.
In the U.K, a landmark vote over May’s divisive agreement for Brexit is scheduled to take place at 22:30 GMT on Tuesday. Most expect it to be rejected, with more than 100 Conservative politicians currently opposed to its terms.
In the event that the deal is voted down, May will have three days to come up with an alternative for exiting the European Union on March 29. However, EU leaders have insisted that the deal already agreed is the only one on offer.
The U.S. and European Union have sharply differing goals for coming trade negotiations on, raising the prospect for renewed trans-Atlantic tensions, The Wall Street Journal reports.
And Germany’s economy slowed sharply last year, shaken by softening consumer spending at home and weakness in key export markets.
What stocks are active?
Portuguese food distributor Jeronimo Martins SGPS SA
JMT, +5.75%
added 5%.
In financial stocks, private-equity firm Partners Group Holding AG
PGHN, +2.38%
gained 3%.
Italian banks were down on Tuesday, with Unione di Banche Italiane SpA
UBI, -9.40%
dropping 7% and Banco BPM SpA
BAMI, -8.64%
losing 6%.
Meanwhile, manufacturer AMS AG
AMS, +1.61%
rose by 3%.
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Source : MTV
