EU Bank Takes ‘Quantum Leap’ to End Fossil-Fuel Financing By Bloomberg



(Bloomberg) — The European Investment Bank adopted an unprecedented strategy to end all funding for fossil fuel energy projects, in a move expected to support Europe’s plans to become the first climate-neutral continent.

The board of the Luxembourg-based lending arm of the European Union decided at a meeting on Thursday to approve a new energy policy that includes increased support for clean-energy projects. The bank will not consider new financing of unabated fossil fuels, including , from the end of 2021.

With more than half a trillion dollars in outstanding loans, the EIB is the biggest multilateral financial institution in the world. It’s owned by EU member states.

The lender’s move to prioritize energy-efficiency and renewable energy projects will reinforce the Green Deal being pushed by Ursula von der Leyen, the incoming president of the European Commission. She wants the institution to become a climate bank and help unlock 1 trillion euros ($1.1 trillion) to shift the economy toward cleaner forms of energy.

“Climate is the top issue on the political agenda of our time,” EIB President Werner Hoyer said in a statement, calling the decision to transition away from financing fossil fuels a “quantum leap in its ambition.”

The 28-nation EU wants to step up its climate ambition in sync with the landmark 2015 Paris agreement to fight global warming, after the U.S. turned its back on the accord. With EU leaders considering committing to climate neutrality by 2050, Europe is a step ahead of other major emitters, including China, India and Japan, which haven’t so far translated their voluntary Paris pledges into equally ambitious binding national measures.

Von der Leyen, who is due to assume her new job as head of the EU’s executive arm in the coming weeks, also wants the bloc to raise its current target of cutting emissions by at least 40 percent by 2030 from 1990 levels. That may involve a reduction in pollution in the order of 50% or even 55% to counter the more frequent heat waves, storms and floods tied to global warming. Fossil fuels such as coal, oil and natural gas are leading contributors to climate change.

The EIB deal resolved a two-month deadlock where Germany and some central European nations sought to soften the proposed rules and make certain natural-gas projects eligible for financing. The strategy adopted on Thursday allows for continued support for projects already in the works that are vital for Europe’s energy security as long as they are appraised and approved by the end of 2021.

“Hats off to the European Investment Bank and those countries who fought hard to help it set a global benchmark today,” said Sebastien Godinot, economist at the environmental lobby WWF Europe. “All public and private banks must now follow suit and end funding of coal, oil and gas to safeguard investments and tackle the climate crisis.”

The EIB new policy includes a new Emissions Performance Standard of 250 grams of carbon dioxide per kilowatt-hour, replacing the current 550 grams standard. That means that in order to qualify for financing, new power-generation projects have to be mitigated by various technologies that significantly improve their emissions performance, EIB Vice President Andrew McDowell said in a conference call.

The EIB, which last year invested more than 16 billion euros in climate-action projects, is preparing to play a larger role in spurring low-carbon technologies.

“This is not a last step, there are many more steps to come,” McDowell said. “But this is probably one of the most difficult parts of this journey that we’re having to take.”

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Hungary accepts big penalty for mismanaging EU funds By Reuters



BUDAPEST (Reuters) – Hungary has accepted a penalty for poorly managing funds it receives from the European Union that could cost Budapest more than 500 billion forints ($1.65 billion) in funding.

Details of the penalty were set out in a document prepared by the European commissioner for neighborhood policy’s team for a meeting of the European Parliament’s Budget Control Committee on Monday.

The document was posted on the committee’s website after the meeting. It showed Hungary had agreed to a 10% reduction in the EU funds deemed by the committee to have been mismanaged in the current 2014-2020 EU budget period.

The penalty would amount to more than 500 billion forints, about 2% of Hungary’s economic output if it were paid in a single year.

Right-wing Prime Minister Viktor Orban has clashed repeatedly with EU institutions and other member states over what they see as the erosion of the rule of law and Hungary’s use of EU funds.

Orban rejects allegations that his government has eroded democratic checks and balances, and scoffed at a proposal to tie funding to upholding democratic principles and the rule of law.

But in 2018, eight of the 30 EU funding programs that had to be “corrected” by the European Commission because of problems in how they were managed were Hungarian, according to the Commission, the EU’s executive.

Citing a public procurement audit, the Commission identified Hungary as the EU member state with the weakest national management and control systems in 2018.

Hungary could have challenged the Commission’s findings project-by-project but instead opted for a “10% flat-rate financial correction.”

The Hungarian government did not respond to requests for comment.

Benedek Javor, a former Green member of the European Parliament who opposes Orban, wrote in a blog post that the penalty showed that “even in regional terms, Hungary’s situation is tragic.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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EU Stimulus, World Manufacturing By Bloomberg


© Reuters. Charting the Global Economy: EU Stimulus, World Manufacturing

(Bloomberg) — Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify (NYSE:) or Pocket Cast.

Europe’s top central banker is urging larger fiscal responses from governments to invigorate economies, while rising commodities prices and slight improvements in a global manufacturing index indicate demand is stabilizing.

Following are some of the top charts that appeared on the Bloomberg terminal and Bloomberg.com this week. The scope of this weekly series, grouped by region, is a graphical depiction of an evolving world economy. Chart selection is based on financial market and national economy relevance, shifts in demographics and geopolitical events.

American workers in the industries where wages are well above the national average are commanding the biggest bumps in pay, the latest jobs report showed.

Home equity has increased by almost 20 percentage points over the last decade through a combination of relatively low interest rates which allow for faster mortgage amortization and a robust increase in property prices.

Europe

Two Bank of England officials at Thursday’s policy meeting wanted an immediate reduction in interest rates to combat threats to growth from Brexit and a weaker global economy.

The European Commission’s latest forecasts, released on Thursday, show them all having next year what European Central Bank president Christine Lagarde described in her confirmation testimony as space for stimulus.

Exports from China in October fell less than expected, offering a tentative sign of stability in trade markets amid hopes of a interim trade deal between Washington and Beijing.

Hong Kong officials looking for a fiscal solution to a months-long impasse with protesters are doing it on the cheap. While Hong Kong spends almost half its budget on social welfare, health and education, its annual spending lags it peers.

Global

While JPMorgan Chase (NYSE:) & Co.’s global manufacturing index contracted for a sixth month in October, it inched closer toward positive territory as both output and orders firmed.

Commodities are enjoying a revival as optimism over a possible U.S.-China trade pact boosts prospects for demand, with gains in energy, base metals and crops.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



EU won’t give broad access to its market after Brexit if Britain tramples standards By Reuters



BRUSSELS (Reuters) – The European Union’s Brexit negotiator Michel Barnier said the bloc will only give as much access to its single market to Britain after Brexit as is justified by London ensuring that EU rules and standards are preserved.

Barnier said access would be “proportional” and that British Prime Minister Boris Johnson may be able to achieve the goal of a zero-tariff and zero-quota new trade relationship.

“We want to have solid guarantees on the level-playing field,” Barnier said. “We will keep a close watch and be extremely vigilant on … social rights, environmental protection, state aid and obviously on issues of taxation.”

“It will be a difficult and demanding set of negotiations,” he said, adding that time would be extremely short to negotiate a new trade deal with Britain after Brexit and before the end of 2020.

He said that at the end of 2020 the sides would need to reassess whether more time was needed in the status-quo transition period envisaged after Brexit to agree on a new deal.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



EU hopes to endorse Brexit delay to January 31 with earlier departure possible: sources By Reuters


© Reuters. FILE PHOTO: An anti-Brexit protester waves an EU flag outside the Houses of Parliament in London

BRUSSELS (Reuters) – The 27 European Union countries that will remain after Brexit hope to agree on Monday to delay Britain’s divorce until Jan.31 with an earlier departure possible should the factious UK parliament ratify their separation deal, sources said.

British Prime Minister Boris Johnson last week reluctantly requested the three-month delay until the end of January, 2020, after the parliament’s lower House of Commons refused to swiftly approve a new Brexit deal he had agreed with the bloc.

Any postponement to Brexit can only be granted unanimously by the 27 and French objections have so far prevented a decision as Johnson spars with lawmakers over calling an early election.

Diplomatic sources told Reuters the bloc’s 27 EU ambassadors would meet at 0900 GMT on Monday in Brussels to agree on the three-month delay from the current Brexit date of Oct. 31.

The latest plan envisages that Britain could also be out on Dec.1 or Jan.1 should the parliament ratify the agreement in November or December, respectively, according to diplomats who deal with Brexit in the EU hub, Brussels.

The bloc will state that the extension, the third granted so Britain can sort out its departure, will not be used to renegotiate the divorce treaty again and that London should not impede other essential work by the EU on projects from budgets to climate policies.

Should all the ambassadors agree, there will be a short period — less than 24 hours and possibly as little as several hours — during which national capitals could still object. If no issues are raised, the decision will take effect.

If Britain is still in the EU after Oct. 31, the bloc will ask London to name a candidate for the new executive European Commission, added the sources, who spoke on condition of anonymity. A new Commission, comprising one representative from every member state, is due to take over on Dec. 1.

More than three years after Britain voted to quit the EU, the country and its parliament remain divided over how, when and even whether to leave, and the matter has triggered a spiraling political crisis in the country.

For the EU, the unprecedented loss of a member is a historic setback. But the 27 are also deeply frustrated with the intractable divorce, which is sapping time, energy and political capital that should otherwise be spent on jump-starting economies and tackling security and other challenges.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Sterling falls on election uncertainty, traders eye EU meeting on Friday By Reuters



By Stanley White

TOKYO (Reuters) – The British pound fell on Friday versus the dollar and the euro after Prime Minister Boris Johnson’s call for an election cast yet more uncertainty over Britain’s divorce from the European Union.

Sentiment for sterling is likely to remain fragile ahead of a meeting later on Friday where European Union officials may decide how long they will extend Britain’s deadline to leave the EU beyond the current date of Oct. 31.

At this stage, an election looks unlikely because the main opposition Labour Party has withheld its support and other opposition parties have rejected the offer.

However, the twists and turns of the Brexit process have proved too complex to predict, which is likely to discourage some investors from taking on excessive risk before the EU agrees a new deadline for the UK’s departure from the bloc.

“We’re constructive on sterling in the mid-term, because we don’t see a high chance for a general election,” said Osamu Takashima, head of G10 FX strategy at Citigroup (NYSE:) Global Markets Japan in Tokyo.

“My personal concern is once political uncertainty lifts, people will focus more on the UK’s economy, which is weakening. This could be a negative for sterling.”

The pound fell 0.14% to $1.2841 in Asia on Friday. For the week, sterling was on course for a 1.18% decline versus the greenback, its biggest weekly decline since Sept. 27.

Sterling fell 0.1% to 86.49 pence per euro (), on course for a 0.45% weekly decline.

Opposition Labour leader Jeremy Corbyn said he would wait to see what the EU decides on a Brexit delay before deciding on a general election.

However, Corbyn also repeated he could only back an election when the risk of Johnson taking Britain out of the EU without a deal to smooth the transition was off the table.

The euro () held steady at $1.1103 in Asia on Friday, on course for a 0.62% weekly decline.

The Ifo economic institute’s closely-watched measure of German business sentiment due later on Friday is expected to weaken slightly in October, highlighting fears that Europe’s largest economy is slipping into recession due to the U.S.-China trade war and Brexit.

The European Central Bank left monetary policy unchanged on Thursday after unveiling a big stimulus package last month, but there are concerns the ECB’s firepower has largely been spent.

The () against a basket of six major currencies was little changed at 97.688 but up 0.42% on the week. The U.S. currency held steady at 108.61 yen , on course for a 0.18% weekly advance.

The focus shifts next week to a U.S. Federal Reserve meeting ending Oct. 30 and a Bank of Japan meeting ending Oct. 31.

The Fed is expected to cut interest rates for a third time this year, but fixed income analysts say this is largely priced into the market.

The BOJ is leaning toward keeping policy on hold next week, but the decision is a close call as policymakers struggle with the fallout from the U.S.-China trade war.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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EU considers Brexit delay; Johnson says that would lead to election By Reuters



By John Chalmers and Jan Strupczewski

BRUSSELS (Reuters) – EU leaders considered on Wednesday whether to give Britain a three-month Brexit extension, and Prime Minister Boris Johnson said that if they do so he would call an election by Christmas.

Britain appears closer than ever to resolving its 3 1/2 year Brexit conundrum, with Johnson having agreed a deal with the EU last week and secured an early signal of support for it from parliament.

But there are still plenty of hurdles left, and Johnson’s ability to deliver on a “do or die” pledge to get Britain out of the EU by Oct. 31 is in doubt, after parliament rejected a three-day timetable to enact his agreement.

European Council President Donald Tusk said on Twitter he was recommending that EU leaders back a delay, which Johnson says he does not want but was forced by parliament to request.

European officials said the most likely scenario was that the bloc would grant a three-month delay, with Britain permitted to leave sooner if it could enact legislation faster. There was also a chance that some EU countries, notably France, could demand a shorter extension, possibly of just days or weeks.

Johnson’s spokesman said that if the EU offers a delay until the end of January there would need to be an election in Britain, and this could be held before Christmas.

Johnson paused the bill that would implement the agreement he reached with the other members of the EU, after dramatic votes on Tuesday in which parliament accepted the deal in principle but rejected the three-day timetable to enact it.

The government argued a tight schedule was necessary to meet next week’s deadline but lawmakers said they needed more time.

EMERGENCY SUMMIT?

It is now for the leaders of the 27 member states to decide whether the Oct. 31 deadline should be pushed back.

“The most likely outcome is an extension until January 31, as requested by London, with the possibility of Britain getting out earlier, providing it finishes its legal processes,” said an EU diplomat involved in Brexit discussions. “Basically as soon as Britain is ready itself, it can go.”

The one big uncertainty is whether France will agree. A source at President Emmanuel Macron’s office said late on Tuesday that Paris was ready to grant an additional few days to facilitate the British parliament’s vote but opposed any extension beyond that. On Wednesday, French officials stuck to that view, despite Tusk’s recommendation for a longer delay.

“The additional delay will be a few days, a few weeks maybe, but not up to January as some people are saying, that’s just not possible,” Pieyre-Alexandre Anglade, a member of the French parliament who handles European affairs for Macron’s party, told Reuters.

Any extension must be agreed unanimously among the EU 27. They have already agreed twice to postpone Brexit from the original deadline of March 29 this year. Both times, the French complained but eventually relented.

A second EU official said the ambassadors of the EU27 would meet in Brussels at 5:30 p.m. (1530 GMT) on Wednesday to consider Tusk’s recommendation and his proposal to seek their leaders’ consensus by “written procedure”. An agreement is not likely to be reached on Wednesday, the official said.

Irish Prime Minister Leo Varadkar, who is in favor of a three-month extension, told parliament in Dublin that if there is no consensus among the 27’s leaders they may have an emergency summit next Monday or even as soon as Friday.

“My bags are always packed for Brussels and packed they are again,” Varadkar said.

A “GET BREXIT DONE” ELECTION

Johnson confounded some of his critics by emerging last week with a deal with the EU, which differs from an agreement reached by his predecessor, Theresa May, mainly over how it handles the land border of British-ruled Northern Ireland.

May had agreed to apply some EU rules across all of Britain unless a new arrangement could be found to keep the Irish border open. Johnson would effectively create a new border in the Irish Sea, leaving Northern Ireland to apply EU rules while the rest of the United Kingdom goes its own way.

That has cost him the support of a Northern Irish party that had propped up his minority government, but could unlock the support of parliament that eluded May.

In the latest day of Brexit drama in Britain’s Westminster seat of power on Tuesday, lawmakers handed Johnson the first major parliamentary victory of his premiership by signaling their support for his deal in an early legislative hurdle.

But that was overshadowed just minutes later when lawmakers defeated him on his timetable. Johnson had hoped to make the delay request unnecessary by passing the Brexit law within days.

Johnson has suggested he would push for a new election, campaigning on a platform to “get Brexit done”, if the EU agrees the full three-month delay that lawmakers forced him to request.

Johnson cannot however call an election without the support of the opposition Labour Party, which has suggested it will support one only if the Brexit deadline is extended beyond election day.



Italy to give EU clarification on its budget by Wednesday: source By Reuters


Italy to give EU clarification on its budget by Wednesday: source

ROME (Reuters) – The European Commission has sent a letter to Italian authorities asking for clarification over its 2020 draft budget and Rome will reply by Wednesday, an Italian government source told Reuters.

Under EU rules, the executive European Commission has the job of checking every year whether draft budgets of euro zone countries do not break EU rules on deficit and debt that set limits on borrowing to underpin the euro.

Italy’s draft 2020 budget assumes a rise in the structural deficit, the measure excluding business cycle swings and one off expenditure and revenue, of 0.1% of GDP, while under EU rules this deficit should fall 0.6% of GDP.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



UK PM sends unsigned letter to EU asking for Brexit delay By Reuters



By Elizabeth Piper and Kylie MacLellan

LONDON (Reuters) – Prime Minister Boris Johnson sent an unsigned letter to the European Union requesting a delay to Britain’s exit from the bloc and also said he did not want the extension after his latest Brexit setback in parliament on Saturday.

Johnson had previously said he would rather be “dead in a ditch” than ask for any extension to the Oct. 31 deadline.

But he was compelled, by a law passed last month by opponents, to send a letter to the bloc asking to push back the deadline to Jan. 31 after lawmakers thwarted his attempt to pass his EU divorce deal on Saturday.

A government source said Johnson sent a total of three letters to Donald Tusk, the president of the European Council: a photocopy of the text that the law, known as the Benn Act, forced him to write; a cover note from Britain’s EU envoy saying the government was simply complying with that law; and a third letter in which Johnson said he did not want an extension.

“I have made clear since becoming Prime Minister and made clear to parliament again today, my view, and the Government’s position, that a further extension would damage the interests of the UK and our EU partners, and the relationship between us,” Johnson said in the third letter, published on Twitter by the Financial Times’ Brussels correspondent.

Johnson, for whom delivering Brexit is key to his plan to hold an early election, said he was confident that the process of getting the Brexit legislation through Britain’s parliament would be completed before Oct. 31, according to the letter.

Tusk said he had received the request from Johnson.

“I will now start consulting EU leaders on how to react,” he said on Twitter.

French President Emmanuel Macron told Johnson that Paris needed swift clarification on the situation after Saturday’s vote, an official at the French presidency told Reuters.

“He signaled a delay would be in no one’s interest,” the official said.

However, it was unlikely that the EU’s 27 members states would refuse Britain’s delay request.

JOHNSON PLAN TIPPED ON HEAD

Johnson had hoped that Saturday would see recalcitrant lawmakers finally back the divorce deal he agreed with EU leaders this week and end three years of political deadlock since the 2016 referendum vote to leave the bloc.

Instead, lawmakers voted 322 to 306 in favor of an amendment that turned Johnson’s planned finale on its head by obliging him to ask the EU for a delay, and increasing the opportunity for opponents to frustrate Brexit.

Johnson has previously promised that he would take the country out of the bloc on Oct. 31, without explaining how he would do this while also complying with the Benn Act.

“I will not negotiate a delay with the EU and neither does the law compel me to do so,” he told parliament after lawmakers backed the amendment on Saturday.

Opposition politicians accused him of believing he was above the law.

“Johnson is a Prime Minister who is now treating Parliament and the Courts with contempt,” John McDonnell, the opposition Labour Party’s finance spokesman said.

“His juvenile refusal to even sign the letter confirms what we always suspected that Johnson with his arrogant sense of entitlement considers he is above the law and above accountability.”

Scotland’s highest court is due to consider on Monday a legal challenge that had sought to force Johnson to comply with the Benn Act. The court said earlier this month that government lawyers had given formal legal statements that he would abide by the Benn Act and it would be a serious matter if he did not.

“Boris Johnson promised #Scottish court he would comply with #BennAct & not seek to frustrate it. Looks like he’s breaking both promises,” Joanna Cherry, a Scottish National Party lawmaker involved in the case said on Twitter.



Pound and UK stocks surge on report EU, UK close to Brexit draft deal By Reuters



LONDON (Reuters) – Sterling jumped against the dollar and the euro while British stock prices and government bond yields rose in late afternoon trading on Tuesday after a Bloomberg report that British and European Union negotiators were close to a Brexit draft deal.

The pound jumped more than 1% versus the dollar to $1.2742 and by a similar margin against the euro to 86.31 pence. The FTSE250 of UK mid-cap stocks () was last up 1.6%.

“A deal between the UK and EU was 60 percent in the price and now we stand to see if the remaining 40 pct come into play so the pound is rallying,” said Stephen Gallo, European head of FX markets at BMO.

British government bond yields shot higher. The two-year gilt yield () rose to its highest level since Sept. 16 at 0.575%, up around 7.5 basis points on the day.

The move rippled over into the broader European bond market with the 10-year German government bond reaching 2.5 month highs, up 4 basis points at -0.41% ().

European equity benchmarks accelerated their gains on the news with the STOXX 600 () over 1%, Germany’s () up 1.2%, France’s CAC40 () up 1.2%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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