EUROPE MARKETS: Banks Drive European Markets Higher As Investors Monitor Brexit Developments
21 Octubre 2019 - 07:05AM
Noticias Dow Jones
By Barbara Kollmeyer, MarketWatch
SAP and Wirecard also climbing
European stocks traded modestly higher on Monday, with banks in
the lead as investors braced for another week of Brexit headlines,
while software company SAP AG gained after reporting its
results.
The Stoxx Europe 600 rose 0.5% to 393.76, despite sharp losses
for Wall Street on Friday.
The German DAX rose 0.7% to 12,727.90, the French CAC 40 was up
0.2% to 5,647.43 and the U.K. FTSE 100 was up 0.2% at 7,163.03.
The pound shook off earlier losses and last traded flat at
$1.2982, amid optimism that U.K. Prime Minister Boris Johnson may
have enough votes to push his Brexit deal through. Dow Jones
Industrial Average futures rose 0.2% to 7,904.75.
Read:Goldman Sachs sees pound climbing to $1.35 as risk of
no-deal Brexit fades
(http://www.marketwatch.com/story/goldman-sachs-says-pound-could-hit-135-as-risk-of-no-deal-brexit-fades-2019-10-21)
After a crucial parliamentary vote failed to get off the ground
on Saturday, Johnson was forced to send a letter to the EU asking
for a three-month Brexit delay. Johnson, who is opposed to any
delay, is expected to try to win parliamentary approval for his
plan on Monday as the October 31 Brexit deadline draws nearer.
Read: So what's next after the U.K. parliament's non-vote on
Brexit?
(http://www.marketwatch.com/story/so-whats-next-after-the-uk-parliaments-non-vote-on-brexit-2019-10-19)
"Despite the weekend false start European markets have also
opened higher with investors taking the view that the passing of
the deal has been merely been delayed, with once again banks, house
builders and other UK-focused stocks leading the early gainers,"
said Michael Hewson, chief market analyst at CMC Markets U.K., in a
note to clients.
Opinion:Johnson lost again. But his Brexit deal is likely to
succeed
(http://www.marketwatch.com/story/johnson-lost-again-but-his-brexit-deal-is-likely-to-succeed-2019-10-19)
Stocks on the move included SAP AG shares (SAP.XE) (SAP.XE),
which rose 1.3% after the German business software maker reported a
28% rise in third-quarter net profit
(http://www.marketwatch.com/story/sap-reports-28-profit-jump-backs-guidance-2019-10-21)
and reiterated its guidance for 2019.
Also in Germany, Wirecard AG (WDI.XE) rallied 6% after the
payment company said it had commissioned an independent audit
(http://www.marketwatch.com/story/wirecard-commissions-independent-audit-2019-10-21-2103127)
following an Financial Times article that questioned its accounting
practices.
At the bottom, shares of Smith & Nephew (SN.LN) fell 8%
after the medical device maker said chief executive Namal Nawana
will step down at the end of the month.
And shares of U.K. insurer Prudential (PRU.LN) slid 9% as it
completes its demerger from M&G, which will mean two separate
listed companies.
(END) Dow Jones Newswires
October 21, 2019 07:50 ET (11:50 GMT)
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