European stocks were seen opening higher on Friday with investors raising hopes on the possibility that the US political parties will end the ongoing US government shutdown.
The European Euro Stoxx 50 advanced 0.36% at 2,976.50 at the time of writing, while the French CAC 40 rose 0.02% at 4,218.30. At the same time the UK FTSE 100 gained 0.30% to 6,448.30, while Germany’s DAX 30 edged 0.25% higher to 8,707.50.
European Stocks – Germany’s Inflation
Germany’s consumer prices advanced 1.4% higher in September compared to the same period last year, assisted by the upside from education and food prices, the Federal Statistical Office confirmed on Friday.
Meanwhile health prices and energy prices had a negative effect on the overall prices level.
European Stocks – US Shutdown
The ongoing government shutdown in the world’s largest economy has reached its eleventh day on Friday. Investors are expecting the US president Barack Obama and the Republicans to finalize an agreement to end the ongoing government shutdown and avoid the alarming debt default before the deadline on October 17.
On Thursday, House Republicans announced a new strategy to extend the debt limit to $16.7 trillion.
“It is our hope that the president will look at this as an opportunity and a good-faith effort on our part to move halfway, halfway to what he’s demanded in order to have these conversations begin,” Republican House Speaker John Boehner said in a press conference in Washington.
US Treasury Secretary Jack Lew warned that the ongoing partial government shutdown is affecting the nation’s economy and the financial markets.
Jack Lew also advised the government to raise the debt limit before the deadline or it could be very dangerous.
The number of unemployment claims in the US rose from 66,000 to 374,000 in the week ending October 5, according to the official data released.
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