European and European markets increase after the EU migration agreement

The main European stock exchanges and the euro record a white balance in part-time operations, after the EU leaders reached an agreement on migration that mitigated the pressure on German Chancellor Angela Merkel. Traders said the gains could be short-lived due to deep divisions in the block.

A tense summit that lasted until Friday morning led to vague commitments from EU leaders to strengthen the external borders and explore new centers to accommodate immigrants.

The agreement eased fears of a stalemate between Italy and the rest of the European bloc and the euro has therefore climbed against the dollar, the Swiss franc, the pound sterling and the Japanese yen.

In this context, the Stoxx Europe 600 index rose 0.84%, while the London Stock Exchange gained 0.57% more in its FTSE-100 index [19659005] while the DAX-40 index of the Frankfurt Stock Exchange adds 1.16% increase, followed by the CAC-40 in Paris which gained 1.06%; The Ibex-35 of Madrid recovers 0.28% and the Mibte of Milan 0.84%.

On the other hand, the SMI index of the Swiss stock exchange rose by 1.5%, contrary to the Lisbon PSI, which fell by 0.38%.

On the foreign exchange market, the agreement in the European Union has marked a positive impact for the euro which increases by 0.7% to 1.16491 dollar.

European markets have reacted to key data such as UK GDP and advanced euro zone inflation with the most encouraging outcome as expected at the top of the European Union.

The British economy as a whole grew by 0.2 percent
quarter in the first three months of 2018, a
unexpectedly upward revision of the initial estimate of a
0.1 percent. The National Statistics Office said that
The construction sector had decreased less than expected.

The British service sector
which means an 80
percent of the UK economy, grew by 0.3 percent
month terms in April, the fastest growth since
November 2017.

The pound is revalued against the dollar and the euro after
know these data and futures on interest rates
they raised the implied probability of
that in August, the Bank of England adjusted the conditions of
indebtedness

The pound is up 0.52% to 1.3146 for a dollar

With information from Reuters and Notimex.