Europe Stocks Rise, With U.K. Shares Down After New Brexit Date

LONDON (Capital Markets in Africa) – European stocks opened steady following a mixed trading session in Asia, as British stocks fall after new Brexit developments. With only one week left of trading, European equities are heading for their best quarter since 2015.

The Stoxx Europe 600 Index rose 0.2 percent, led by gains in technology shares. Deutsche Bank AG jumped 2.6 percent as the German lender said it sees 2019 revenue slightly higher than in 2018.

European Union leaders have given British Prime Minister an extra two weeksto avoid a no-deal Brexit. Theresa May has until April 12 to decide whether to leave without agreement or request a much longer extension. The FTSE 100 dropped 0.2 percent.

“The two main catalysts for today’s session will be the new Brexit date and PMIs in Europe and the U.S. later in the day,” said Tomas Garcia, head of multi-assets at Andorra-based MoraBanc Asset Management. “The EU concession to May should provide some stability in the short term but it only pushes the problem further two more weeks.”

Investors will be looking at French, German and U.S. PMI data being published Friday.

Source: Bloomberg Business News