The European markets opened positive on Monday, while investors and the finance ministers in the euro zone are yet to conclude as they discuss Greece last aid tranche worth approximately 8.1 billion euros from its creditors.
The Stoxx 50 gained 1.12% to 2,625.00 just as the market opened, while the French CAC advanced 1.10% to 3,796.30 at the same time. In Germany, the DAX index rose 1.11% to 7,893.10, while UK FTSE 100 gained 0.82% to 6,428.50.
The finance ministers are expected to attend the meeting later today in Brussels, as the final conclusion is expected to be based on the Troika’s assessment of progress from the Greece government on its adjustment program.
Reports from the Federal Statistical Office (Destatis) showed that the German’s trade surplus were at 13.1 billion euros in May, compared to the previous record of 18 million euros and estimated value of 17.6 billion euros.
The imports in Germany increased by 1.7%, while the exports fell 2.4% in May, according to reports released.
Analysts forecasted a fall of 0.5% for the month-to-month industrial production in Germany for the month of May, compared to previous record of 1.8% in April.
Meanwhile, the President of the European Central Bank Mario Draghi is expected to speak to the European parliament later today, which may hint when the central bank would change the rates from the record low.
Investors have raised concerns that the European market gains may fall if the Federal Reserve (Fed) decided to proceed with cut back of its asset –purchasing program, after the labor data showed that the US economy has improved.
The US data released showed the US non-farm payrolls boosted by 195,000 in the month of June, while the unemployment rate was at 7.6%, according to the Bureau of Labor Statistics.
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