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Monday, July 17, 2017       14:21 WIB
European markets open higher as investors eye second round of Brexit talks

Sam Meredith @smeredith19

European bourses opened higher on Monday, as investors reacted to robust economic growth data in China and awaited the second round of formal Brexit talks in Brussels.

The pan-European Stoxx 600 edged up 0.11 percent with almost all sectors and major bourses in positive territory.

Symbol

Name

Price

 

Change

%Change

Volume

FTSE

FTSE

7402.80

 

24.41

0.33%

7559493

DAX

DAX

12645.39

 

13.67

0.11%

1477801

CAC

CAC

5242.34

 

7.03

0.13%

1220371

IBEX 35

IBEX 35 Idx

10660.90

 

5.80

0.05%

3716976

U.K. Brexit Secretary David Davis is set to resume talks with the EU`s Michel Barnier in Brussels on Monday. Negotiators are expected to break into groups to discuss four key areas before a scheduled news conference on Thursday.

British broadcaster ITV announced Carolyn McCall is set to become its new chief executive on Monday morning. McCall, who had worked as easyJet`s CEO for seven years, is due to assume her new role with the U.K.`s biggest free-to-air commercial broadcaster on January 8, 2018.

Elsewhere, China reported stronger-than-expected economic growth data on Monday as the world`s second-largest economy was supported by robust industrial output, retail sales and exports. The Chinese economy grew 6.9 percent (year-on-year) in the second quarter to keep pace with the first quarter of 2017, according to the National Bureau of Statistics.

Meanwhile, in the U.S. on Friday, data showed consumer prices were unchanged in June and retail sales slipped for the second consecutive month. The data is likely to dampen expectations of robust economic growth in the second quarter. The chances of an interest rate hike from the Federal Reserve in December fell to around 43 percent on Friday, according to the CME`s Fedwatch tool.

(CNBC.com)


 





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