The FCA-Renault agreement hopes to help European shares by Reuters
© Reuters. The German Stock Exchange Index DAX Graph on the Frankfurt Stock Exchange By Amy Caren Daniel and Agamoni Ghosh
(Reuters) – Strong Chinese export data and the US-Mexico agreement to avoid new import tariffs strengthened the mood of European stock markets on Monday while The company's shares also rose from signs of movement to revive Fiat-Chrysler and Renault's merger.
The pan-regional index increased 0.4% by 0805 GMT, with trading volumes exhausted by Whit Monday's holiday in Germany, Switzerland, Austria and most Nordic countries.
The auto sector got 0.5% on the sign that Fiat Chrysler Automobiles NV and Renault SA (PA 🙂 were looking for ways to revive their collapsed merger schedule and secure the approval of Nissan Motor Co .
Fiat Chrysler and Renault's shares were both up 2% after sources close to the companies told Reuters that they were back in discussions on ways to revive the deal.
"We think it's too early to talk about negotiations being reopened," says Equita analyst Emanuele Gallazzi in a note.
"Today's news along with the hypotheses discussed in various press sources related to alternative scenarios for the FCA, including GM, Hyundai and Geely, hold high speculative appeal of the stock."
Friday, Friday, President Donald Trump resigned last month's shock threat of a 5% import tariff on all Mexican goods in exchange for influence on immigration. Relief to investors worried that another major US trade conflict would drive the world economy into recession.
"Markets are blowing small celebratory bubbles this morning," Deutsche Bank (DE 🙂 analysts said in a note.
Trade tensions between the United States and China continue to rise, with a group of 20 financial managers saying that trade and geopolitical tensions have increased the risk of improving global growth, while not requiring a solution to the conflict.
Add gains were some remaining purchases after weak US nonfarm payrolls data on Friday which spurred the hope of the Federal Reserve cut interest rates.
Concerns about the growth rate of the world's largest economies drove nearly 6% fall in European stock markets in May, their worst month of more than two years, but has been countered by the hopes of new central bank stimulus to avert the threat.
BAE Systems (LON 🙂 received, among other things, 1[ads1]% hoping for further agreement in the air and defense area after United Technologies Corp. (NYSE 🙂 agreed on Sunday to combine its space sector with US entrepreneur Raytheon (NYSE 🙂 Co, in what would be the sector's largest merger. [19659004] Thomas Cook's shares jumped 15% after a report that Hong Kong's Fosun Tourism was negotiating to buy its tour business as the British group faces breakdowns after issuing three profit alerts over the past year.
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