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Europe: Stock markets open higher

Monday, June 19, 2017 - 15:43

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[LONDON] European stock markets opened higher on Monday as traders reacted to a strong victory for President Emmanuel Macron's centrist party in French parliamentary elections, as Britain begins formal Brexit talks.

London's benchmark FTSE 100 index rose 0.8 per cent to 7,521.61 points compared with the close on Friday.

In the eurozone, Frankfurt's DAX 30 index climbed 0.8 per cent to 12,849.99 points and the Paris CAC 40 gained 0.8 per cent to 5,305.22.

"A positive opening... comes as traders welcome another Macron victory in France," said Accendo Markets analyst Mike van Dulken.

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Market voices on:

"There is also optimism about a positive start to UK-EU Brexit negotiations which kick off today in Brussels." Mr Macron's year-old Republique en Marche party won one of France's biggest post-war majorities, strengthening his hand in implementing his programme of business-friendly reforms.

Britain's Brexit minister David Davis was meanwhile on Monday to meet Michel Barnier, the EU's chief Brexit negotiator, to kick off hugely complex withdrawal negotiations that are expected to conclude within two years.

AFP

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