European Shares Seen Tad Higher As Brexit Drags On
(RTTNews) - European stocks may open on a steady note Tuesday amid waning global economic concerns.
Gold hit over three-week low on improved risk appetite while the dollar rose to a two-week high against the yen as U.S. bond yields rebounded from 15-month lows.
Asian markets eked out modest gains and the dollar rose to a two-week high against the yen, while the British pound fell after British lawmakers rejected all the options to replace Prime Minister Theresa May's divorce deal.
Guy Verhofstadt, the European Parliament's top Brexit official, said a hard Bexit is becoming nearly inevitable.
It is likely that the Prime Minister will seek another vote to pass her plan possibly on Wednesday, if the Speaker of the House of Commons, John Bercow, permits it. Britain is legally due to leave the EU on April 12.
Oil prices hit fresh 2019 highs after a U.S. official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations. Prices also remain supported by a Reuters survey showing OPEC oil supply sank to a four-year low in March.
U.S. stocks posted strong gains overnight as investors reacted positively to upbeat U.S. and Chinese manufacturing data.
The Dow and the tech-heavy Nasdaq Composite climbed around 1.3 percent to close at their best levels in nearly six months. The S&P 500 added 1.2 percent.
European markets also rallied on Monday amid optimism about U.S.-China trade talks. The pan European Stoxx 600 surged 1.2 percent.
The German DAX climbed 1.4 percent, France's CAC 40 index jumped 1 percent and the U.K.'s FTSE rose half a percent.
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