European stocks stay in consolidation following impressive rally
|Major European stock indexes started the week on a strong footing on the back of the improved market sentiment and continued to push higher before going into a consolidation phase on Friday.
The Euro Stoxx 50 Index on Thursday advanced to its highest level in nearly two years at 3,708 points and was last seen down 0.05% on a daily basis at 3,704. Meanwhile, the UK's FTSE 100 was down 0.3% and Germany's DAX, which renewed its 22-month high at 13,300 points, was erasing 0.2%.
Earlier this week, reports suggesting that the United States and China will roll back imports tariffs as part of the phase-one of the trade deal eased concerns over the potential negative impact of protracted trade conflict on the global economic growth and fueled the rally in risk-sensitive stocks.
Reflecting the upbeat market mood, the 10-year US Treasury bond yield is up 13% since Monday and Wall Street's main indexes jumped to fresh all-time highs on Thursday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.