European stocks rise for the third straight session

Economies.com
2019-10-07 11:14AM UTC

European stocks opened higher in the first session of the week, to continue rising for the third straight session, in recovery from 5-week low, on market bets of the US Fed to cut US interest rates, and amid hopes for the latest round of the US-China trade talks scheduled this week in Washington.

 

Stoxx Europe 600 was higher by 0.3% as of 10:45 GMT, while it closed on Friday higher by 0.7%, rising for the second time amid its recovery attempts from 5-week lows.

 

The index shed 4% during the last week, its second straight weekly loss and the biggest this year, on fears about the trade dispute between the US and the EU.

 

The index opened the first session of the week higher,  to continue rising for the third straight session, as most of the major European markets and sectors rising.

 

The European healthcare sector saw the biggest gains today with a rise by more than 0.7%, on the uptrend the dominated most of the sector's stocks.

 

The market bets increased for the US Fed to cut the interest rates in its next meeting, due to the continued weak US economic data which indicates a near US recession.

 

Chinese Vice Premier Liu He will meet with the US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on next Thursday and Friday, amid hopes to reach a significant progress to end the ongoing raging trade war.

 

S&P 500 futures fell by 0.2%, after it closed higher by 0.8% on Friday at Wall Street.

 

Euro Stoxx 50 rose by 0.35%, in France the CAC 40 index also rose by 0.25%, and Germany's DAX rose by 0.5%, while in London the FTSE 100 rose by 0.3%,

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