European Shares Broadly Higher, DAX Up 1.02%

Forex News

European stocks rise today, although the underlying tone remains cautious amid Brexit uncertainty. Investors welcomed progress in trade negotiations after reports that China’s Vice Premier Liu He, US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer discussed trade issues.

The German DAX stock index is trading at 10.834 level, having added 1.02% on the day. The growth was led by banking and automaker stocks. BMW and Daimler are more than 2% higher, while Volkswagen has surged almost 4%. Deutsche Bank has gained 2.6%.

Today’s data showed, that the indicator of economic sentiment for Germany increased by 6.6 points in December. German ZEW Economic Sentiment index increased to -17.5 in December from -24.1 in November, compared to the forecast for a reading of -25.0. Despite this increase, the indicator is still clearly in negative territory and remains well below the long-term average of 22.5 points. The sub-index current conditions figure fell to 45.3 versus 55.8 expected and 58.2 seen previously.