MARKETS

European stocks rise at open; pound recovers

Sterling was up 0.4 percent at $1.2822, while one euro was worth 88.61 pence. (Shutterstock)

European stock markets firmed at the open Friday, while the pound steadied versus the euro and rose against the dollar a day after Britain’s currency was hammered by Brexit fears.

London’s benchmark FTSE 100 index gained 0.5 percent to 7,071.59 points. The index had finished slightly higher Thursday, as a sliding pound boosted share prices of multinationals.

Meanwhile in the eurozone Friday, Frankfurt’s DAX 30 added 0.1 percent to 11,425.80 points at the open and the Paris CAC 40 was up 0.7 percent to 5,068.64.

Sterling was up 0.4 percent at $1.2822, while one euro was worth 88.61 pence.

British Prime Minister Theresa May was Friday battling on to salvage a draft Brexit deal and her political future after a series of government resignations rattled sterling.

 

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Last Update: Friday, 16 November 2018 KSA 12:47 - GMT 09:47
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