European stocks finish higher, DAX up over 200 pts

By Jeff Davies

Equities on major stock markets in Europe finished the Tuesday’s trading session significantly higher following the Boris Johnson’s election win in the United Kingdom. European Union’s chief Brexit negotiator Michel Barnier and European Commission’s Vice-President Frans Timmermans called on the future British prime minister to work with Brussels in order to avoid a disorderly withdrawal from the bloc.

Meanwhile, the EC reported consumer confidence in the Eurozone increased 0.6 points, while the International Monetary Fund cut the global economic forecast to 3.2% in 2019.

In London, the FTSE 100 was up 0.56%, as Melrose Industries plc jumped 5.47%. Germany’s DAX increased 1.64%, with Continental AG surging 6.31%. In France, the CAC 40 rose 0.92%, as ArcelorMittal SA grew 4.69%.

The euro was down 0.48% against the dollar 4:29 pm GMT, to change hands for $1.11549. At the same time, the pound dropped 0.24% to $1.24462.

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