European stocks score 4-month closing high, but Italy dents gain

European stocks scored an almost four-month closing high on Monday, after an easing in U.S.-China tensions fueled hopes a trade war between the world’s two largest economies can be averted.

But a slump in stocks in Italy proved a drag, as an antiestablishment, euroskeptic coalition made progress in forming a new government.

The Stoxx Europe 600 index climbed 0.3% to close at 395.87, nudging its highest close since Jan. 30, according to FactSet data.

Italy’s FTSE MIB index underperformed the rest of the region, falling 1.5% to 23,092.38. The move came as news reports said the 5 Star Movement and the League were ready to present their prime minister candidate.

The U.K.’s FTSE 100 index climbed 1% to 7,859.17, logging a record closing high.

France’s CAC 40 index rose 0.4% to 5,637.51. Germany’s stock market was closed for Whit Monday.

The euro fell to $ 1.1760 from $ 1.1771 from on Friday. The pound fell to $ 1.3412 and traded around its lowest level since late December.

Traders in Europe were weighing the encouraging news in the U.S.-China trade spat against concerns over political developments in Italy.

Source: Marketwatch

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Nikkei Rises to 3-1/2 Month High, Weaker Yen Supports Exporters

Japan’s Nikkei share average rose to a 3-1/2-month high on Friday morning after a weaker yen lifted exporters, while financial stocks extended their rally as U.S. bond yields remained high.

The Nikkei gained 0.3 percent to 22,903.33 in midmorning trade. The benchmark index has risen 0.7 percent so far this week and is poised to post the eighth straight week of gains, the longest winning streak since a nine-week stretch between September and November.

The dollar rose to its strongest level since Jan. 23 against the yen, hitting 110.98.

Analysts say the Nikkei may touch a psychologically important level of 23,000 if the dollar moves above 111 yen, although investors are unlikely take large positions before the weekend.

Source : Reuters

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European Stocks Hit Nearly 4-Month High, Buoyed by Energy Firms And Ocado

European stocks on Thursday ended at their highest since late January, as energy stocks tracked oil prices higher and Ocado shares surged after a new partnership agreement to enter the U.S. market.

The Stoxx Europe 600 index rose 0.7% to 395.79, its highest close since Jan. 30, according to FactSet data. The pan-European index has been grinding higher in recent days, but in volatile trade where it has swung between small gains and losses.

The U.K.A?a��a�?s FTSE 100 index leapt by 0.7% to a record close of 7,787.97, as traders welcomed reports that Britain plans to stay in EuropeA?a��a�?s customs union after Brexit.

GermanyA?a��a�?s DAX 30 index added 0.9% to end at 13,114.61, and FranceA?a��a�?s CAC 40 index PX1, +0.98%  jumped 1% to 5,621.92.

Source : Marketwatch

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