FRANKFURT, Germany.— This Monday, the main markets in Europe closed with gains, highlighting the Milan stock exchange whose selective index FTSE MIB rose 1%, reaching 42,911.57 points, while the single currency, the euro, sold at 1.1639 dollars.
The euro rises and is sold at 1.1639 dollars
He euro rose after the publication of the improving business confidence in Germany in October and a greater appetite for risk, but it changes in a very narrow fluctuation band.
The euro was exchanged around 3:00 p.m. GMT at $1.1639, compared to $1.1623 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) today set the reference exchange rate for the euro at 1.1640 dollars.
Business confidence rose in October in Germany due to improved expectations for the next six months, especially in the services sector.
However, the euro is trading in a very narrow fluctuation band against the dollar pending the meetings of the Federal Reserve (Fed) and the ECB this week and progress in trade negotiations.
Investors expect that the Fed will cut its interest rates moderately on Wednesday to a range between 3.75% and 4%, and that the ECB will maintain its rates on Thursday at 2%.
Expectations remain that the US and China will reach a trade agreement in South Korea or at least extend the truce.
The delegations of the US and China reached a “preliminary agreement” this Sunday after two days of trade negotiations in Kuala Lumpurwhich paves the way for the meeting between the American president, Donald Trumpand its Chinese counterpart, Xi Jinpingafter an escalation of bilateral tensions.
The single currency was exchanged in a narrow fluctuation band between 1.1618 and 1.1649 dollars.
Milan rises 1%
The milan stock exchange closed this Monday positively and its FTSE MIB selective index rose 1% to 42,911.57 points, boosted by the “preliminary” trade agreement reached between the United States and China this weekend.
For its part, the general index FTSE Italia All-Share It grew by 0.97% to reach 45,557.84 integers.
During the day, 419 million shares were exchanged for a value of about 3,068 million euros.
The companies with the best results were the banks Monte Paschi Siena, which registered an increase of 3.25%, and Bper, with 2.75%, followed by the steel company Tenaris (2.71%), the bank Pop Sondrio (2.61%) and the insurance company Unipol (2.38%).
On the contrary, the beverage producer Campari led the falls, with a drop of 2.07%, followed by the lottery operator Lottomatica (1.40%), the hearing aid manufacturer Amplifon (1.37%), the pharmaceutical company Diasorin (1.14%) and the electrical company Terna (0.91%).
The Spanish stock market rises 0.87%
The Spanish stock market registered its historical closing maximum, at 16,000.2 points, after rising 0.87%, encouraged by the advance of banking and Wall Street in the face of the imminent trade agreement between China and the United States.
The Spanish reference index, the IBEX 35, gained 138.7 points, that is 0.87%, to the historical maximum of 16,000.2 points, above the previous maximum (15,945.7 points), reached 18 years ago, on November 8, 2007. In the year, the selective accumulates gains of 37.99%.
During the session, the IBEX reached 16,027.6 points, still below the historical maximum reached in the course of a session, of 16,040.4 points, recorded on November 9, 2007.
The rise of 0.5% on Wall Street at the national close in anticipation of the signing of a trade agreement between China and the United States, as well as the advance of banking (1.4% on average), favored the IBEX’s all-time high at the end of the day.
Of the large values, only Iberdrola fell, 0.09%. The increases in BBVA (1.78%) and Banco Santander (1.67%) stand out, the fourth and fifth largest on the IBEX, while Repsol advanced 1.2%; Inditex, 1.05%; and Telefónica, 0.29%.
The DAX 40 rises 0.28%
The DAX 40 in Frankfurt rose 0.28% today, despite the improvement in business confidence in Germany in October and progress in trade negotiations between the US and China.
The selective index of the Frankfurt Stock Exchange It closed with a rise of 0.28% at 24,308.78 points.
Business confidence rose in October in Germany due to improved expectations for the next six months, especially in the services sector.
Investors in Germany refused to take positions before the meeting of the Federal Reserve (Fed) and the European Central Bank (ECB), as well as the publication of the results of many companies.
Semiconductor manufacturer Infineon rose 2.4% to 34.29 euros, given progress in trade negotiations.
Tire maker Continental gained 1.4% to 65.40 euros, and postal services Deutsche Post advanced 1.3% to 39.72 euros.
The chemical distributor Brenntag lost 2.4%, to 49.17 euros, the aircraft engine manufacturer MTU lost 2.2%, to 380.50 euros, and the arms manufacturer Rheinmetall fell 1.8%, to 1,731.50 euros.
The wind turbine manufacturer Nordex lost 2.9% on the MDAX index of medium-sized companies, to 22.10 euros, after a bank stopped recommending the purchase of its shares.
The Paris Stock Exchange advances a slight 0.16%
The main index of the Paris Stock Exchangehe CAC-40closed with a very slight advance, 0.16%, despite the preliminary agreement reached on Sunday between the United States and China, at the beginning of a week that will be marked by the publication of a new round of business results.
At the end of the day, which passed with heterogeneous trends but settled on positive ground in the last hours, the Parisian selective stood at 8,239.18 points.
The trading volume was intermediate, with exchanges amounting to 2,868 million euros.
In the list of companies, 15 closed higher, 24 closed lower and one closed without changes.
The largest increases were for the electrical components manufacturer Schneider Electric (2.01%), the tire manufacturer Michelin (1.25%) and the tour operator Accor (1.06%).
On the contrary, the most notable falls were recorded by the automobile manufacturer Renault (-2.21%), the Eurofins Scientific laboratories (-2.13%) and the payment systems company Edenred (-1.93%).
The London Stock Exchange rises 0.09%
The London Stock Exchange It rose a slight 0.09% this Monday and began the week with a new record at the close, for the third consecutive session, in a week dominated by central bank meetings, the financial results of the technology sector and the development of trade negotiations between China and the United States.
The main London index, the FTSE-100advanced 8.20 points, to 9,653.82, while the secondary, the FTSE-250 -which groups smaller companies, generally British-, fell 0.08%, or 17.54 points, to 22,511.48.
The best performing sector of the day in the London market was the banking sector, led by Standard Chartered, which added 3.19%, along with the technological investment fund Polar Capital Technology, which advanced 2.33%, and the banking entity Lloyds Banking Group, which grew 2.31%.
On the contrary, the worst stops were those listed in the mining sector, mainly Endeavor Mining and Fresnillo, which lost 5.03% and 4.97%, respectively, in addition to the industrial equipment rental company Ashtead Group, which fell 2.52%.
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