Shares in the European Markets were seen moving higher, extending gains on Tuesday, following Asia’s gains and the positive Chinese data that supported the sentiment. Investors are still concerned over whether the US will intervene in Syria.
The European Euro Stoxx 50 edged 1.13% higher to 2,829 at the time of writing, while the German DAX advanced 1.34% to 8,386.95. The French CAC 40 gained 1.11% to 4,085.16, while the British FTSE 100 added 0.71% to 6,576.82.
European Markets- Economic News
The French industrial and manufacturing production picked up after falling unexpectedly. The Industrial production in France dropped 0.6% month-on-month in July after dropping 1.4% in the previous month. While the country’s manufacturing output declined 0.7%, compared to the 0.4% fall in the previous month, according to the National Institute for Statistics and Economic Studies reports.
Investors are monitoring France after the Federal Reserve Bank of Dallas President Richard Fisher said that France is the nation that is raising concerns when it comes to economy recovery.
Italy posted its final gross domestic data (GDP) for the second quarter, with the quarterly and annual readings coming in even lower than the previous estimates. Italy’s gross domestic product (GDP) declined 0.3% quarterly and dropped 2.1% year-on-year, the National Institute of Statistics reports confirmed.
Meanwhile, Joerg Asmussen, a board member from the European Central Bank is expected to hold a speech in Brussels later today.
European Markets- Syria Conflict
One of the main focuses of investors is the ongoing conflict in Syria. The US President Barack Obama will still try and persuade the Congress to approve the possible US military intervention in Syria after the alleged use of chemical weapons against its civilians.
On Monday, the Russian Foreign Minister Sergei Lavrov said that Moscow would insist that Syria should hand over its chemical weapons under international control.
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