The UK government says it will ban sales of fossil-fuelled vehicles by 2040
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Gains in commodities from oil to copper lent momentum to European stocks as positive corporate results continued to feed into markets.
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GDP-growth in the UK edged up in Q2, in line with expectations. The ONS estimates the economy expanded by 0.3% Q/Q, up from 0.2% Q/Q in Q1. The year on year growth slowed to 1.7% from 2%.
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The INSEE office released figures showing French consumer confidence fell from 108 in June (a 2007 high) to 104 in July while a stabilisation was expected. The survey also revealed concerns over rising unemployment while inflation expectations also leapt among consumers.
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Copper prices have jumped to the highest level in two years following reports China could move to ban imports of scrap metal by the end of next year, a move that would likely boost demand for refined metals in China.
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The UK government says it will ban sales of fossil-fuelled vehicles by 2040, two weeks after France announced a similar plan.
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Poland, Hungary and the Czech Republic suffered a double blow as the EU mounted a legal fightback to force them to comply with EU refugee quotas. The EU forged ahead to enforce the law, as it prepared to sign-off legal suits against hold-out countries and separately won a favourable opinion at Europe's top court.
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The European Commission stands ready to trigger fresh legal action against the Polish government despite the country's president vetoing two out of four controversial reforms to the Polish judiciary. The EC vice president said the approval of the remaining measures still undermined the independence of the country's judges.
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