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European Equities Rise at Fastest Pace in Two Months

European Equities Rise at Fastest Pace in Two Months

Katie Pilbeam, Contributor


European markets are all gaining and are on track for their biggest rise in two months as retail and tech stocks get snapped up. And Europe's banks gained following broker upgrades for Credit Suisse. The Swiss Bank’s shares rose by 3.5% to a fresh 3-week high.

The FTSE is gaining despite the fourth terrorist attack in the UK since March. At least one man was killed and 10 others injured after a van ploughed into worshippers close to a mosque in Finsbury Park.

Brexit talks are also underway and markets rise after France’s new President wins a large majority in the French parliament securing 350 seats out of 577 seats in Sunday’s second round vote. But the turnout was at a record low of 43%.

The Bank of England has a new interest rate setter Silvana Tenreyro who is also a London School of Economics professor. She will join the MPC on 1 July, replacing Kristin Forbes whose term expires on 30 June 2017. She was one of the 280 economists who signed letter in the Times saying Brexit would be "major mistake."

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--- Written by Katie Pilbeam, DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.