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European Markets Gains Continue to Build

European Markets Gains Continue to Build

Katie Pilbeam, Contributor


European markets are gaining this Monday following on from the positive US jobs data on Friday and now we’ll look ahead to Federal Reserve chief Janet Yellen's semi-annual testimony on monetary policy.

German exports have risen by more than expected in May, jumping by 1.4% month-on-month in May, outstripping a 1.2% rise in imports. It’s the fifth monthly rise in exports in a row, meaning Germany achieved a seasonally adjusted foreign trade balance of €20.3bn.

One of the biggest fallers is construction firm Carillion, down by 35% in midafternoon, the most in more than a decade. This comes after the company announced that results would be below expectations, and that CEO Richard Howson was stepping down.

Eurozone investor confidence has dropped according to Sentix’s monthly survey of investor morale which shows a dip to 28.3 this month, down from June’s 28.4 which could be due to the looming threat of higher interest rates and the unwinding of central bank stimulus programmes are worrying investors.

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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.