European stocks rise for first session in 4 on US rate cut hopes

2019-07-19 11:15:31 GMT (

European shares rose on Friday morning for the first time in the last four sessions, based on US interest rate expectations after comments by a Federal Reserve member, as well as hopes for a breakthrough in US-China trade talks.


As of 08:59 GMT, Stoxx Europe 600 rose by 0.7%, and the index ended yesterday's session down by 0.2%, the third consecutive daily loss, as technology companies fell after weak business results from SABB.


The index rose on Friday morning in the last session of the week, to get closer to achieving the first gain in the last four sessions, with most of Europe's major stock exchanges and sectors in the positive region.


The auto industry is the top gainers in Europe with a gain of 1.5%, and the energy sector also gained strongly due to the rebound in oil prices.


S&P 500 futures rose by more than 0.2%, and the index ended yesterday's session on Wall Street up by 0.4%, the first gain in the last three sessions, after New York Federal Reserve Chairman John Williams' latest remarks.


New York Federal Reserve Chairman John Williams said that the US central bank must "act quickly" to counter the economic slowdown and weak inflation, adding that it is better to take preventive measures rather than wait for a disaster.


A spokesman for the Federal Reserve Bank of New York tried to soften the impact of those comments and told CNBC that Williams' comments were part of an academic talk and were not related to possible monetary policy actions.


On the other hand, in a sign of a possible breakthrough in the US-China trade talks, US and Chinese officials had a conference call on Thursday, and US Treasury Secretary Steven Mnuchin said direct talks could continue.


In Germany, the DAX rose 0.8% to top the gainers in Europe, the Euro Stoxx 50 rose by 0.7%, and France's CAC 40 rose by 0.6% and in London the FTSE 100 added 0.65%.

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