European stocks recover as UK triggers Brexit

Eren Sengezer FXStreet

European stocks closed the day higher for a second straight session, as investors didn't pay much attention to the official beginning of the U.K.’s negotiations to leave the European Union.

Rather than Brexit, oil prices were tracked closely by the investors as the EIA inventory report showed that the U.S. crude stockpiles rose less than forecast, allowing oil to extend its gains. Energy shares led the way in the Euro Stoxx 600 with a daily gain of more than 0.8%. During the month of March, the Stoxx 600 index showed its best performance since 2010, gaining about 2.2%.

The FTSE 100, after dropping 0.3%, closed the day at 7.373,50, up 0.39%. Germany’s DAX 30 index gained 59 points, or 0.5% to end the day at 12.208.50.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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