European Stocks, Dollar Rally Tracking Trump
Mohammad Ali (@ChaudhryMAli88) Published November 14, 2016 | 04:20 PM
LONDON, , (UrduPoint / Pakistan Point News - 14th Nov, 2016 ) - European stock markets rallied Monday and the Dollar surged to multi-month highs, with traders shrugging off concerns over the Trump presidency and weak Chinese economic data.
In foreign exchange, the euro struck a ten-month low at $1.0728, while the dollar reached also a five-month peak versus the Yen. "European shares are trading higher... despite disappointing Chinese industrial production and retail sales data," said Markus Huber, a trader at City of London Markets.
"It appears that the fact that president-elect Trump might not be quite as radical and confrontational as some had feared and therefore generally less uncertainty making the rounds is pushing stocks higher for now.
" Equities around the world have seen volatile trading since the tycoon's shock election win last week, with his pledge of big-spending measures and tax cuts leading to predictions of a surge in inflation and higher borrowing costs.
The prospect of better and safer returns in the US has also led to an exodus from emerging markets and currencies, while the Mexican peso has hit record dollar-lows owing to concerns about Trump's warning he will tear up a key trade deal.
Around 1030 GMT, London's benchmark FTSE 100 was 1.1-percent higher compared with the close on Friday. Frankfurt's DAX 30 jumped 0.9 percent and the Paris CAC 40 rallied 1.2 percent.
Related Topics
Recent Stories
Aeon & Trisl signifies back-to-back successes by securing the No. 1 Award at the ..
Attaullah Tarar’s success notification from NA-127 challenged
PSX witnesses positive trend today
PM Shehbaz meets CJP Isa to address IHC judges’ concerns
Pakistan vows to bring to justice perpetrators, abettors of Bisham terrorist att ..
May 9 riots: SC allows conditionally to military courts to deliver reserved verd ..
Interior Minister arrives in Peshawar after Shangla suicide attack
OPPO Reno 11 F 5G: Setting New Records as Pakistan's Most Beloved Smartphone Lin ..
PCB dismisses FICA's claims of unpaid dues in PSL
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 March 2024
Today Gold Rate in Pakistan 28 March 2024
Niger says US to submit plan to 'disengage' troops
More Stories From Business
-
Aeon & Trisl signifies back-to-back successes by securing the No. 1 Award at the Emaar & Top Award a ..
3 minutes ago -
Development of SMEs govt's top priority: Rana Tanveer
38 minutes ago -
PSX witnesses positive trend today
2 hours ago -
Gold rates up by Rs.1,500 to Rs.231,000 per tola
2 hours ago -
Pakistan earns US $419m from travel services' export in Jul-Jan
4 hours ago -
Tokyo stocks drop on ex-dividend day
4 hours ago
-
Exchange rates for currency notes
5 hours ago -
Foreign exchange rates
5 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 March 2024
7 hours ago -
Today Gold Rate in Pakistan 28 March 2024
8 hours ago -
Tokyo shares sink on ex-dividend day
8 hours ago -
Stock markets mostly rise, yen hits 34-year low
17 hours ago