European shares mixed

18 Jul 2020

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LONDON: Europe’s main stock markets moved in mixed directions on Friday as traders watched whether EU leaders will be agree on a post-virus economic rescue plan.

Frankfurt’s DAX 30 ended the day 0.4 per cent higher while in Paris the CAC 40 shed 0.3pc.

Outside the eurozone, London’ benchmark FTSE 100 index ended the day 0.6pc higher.

“It was been a quiet trading session as the much-awaited EU summit to discuss the rescue fund began today,” said market analyst David Madden at CMC Markets UK.

The European Union was facing a “moment of truth”, France’s President Emma­nuel Macron declared Friday.

EU leaders were holding their first face-to-face summit in five months, but the gathering seems unlikely to bridge their divide over a huge 750-billion-euro ($847bn) recovery fund.

Elsewhere Friday, US stocks wobbled on mixed economic data.

Published in Dawn, July 18th, 2020