After a strong start, the major European stock market indices ended the Wednesday trading with a moderate rise.
The pan-European FTSE EuroFirst 300 and Stoxx 600 indexes showed an increase of 0.24 percent at the end of the trading period, with the EuroStoxx50 euro index rising 0.22 percent higher.
In London, the FTSE-100 index ended trading with an increase of 0.07 percent, based on unofficial closing data. The DAX index was 0.12 percent higher in Frankfurt, with the CAC-40 in Paris rising 0.46 percent. In Madrid, a 0.44 percent index increase ended Wednesday trading on the stock exchange, while Milan lost 0.36 percent.
Italian banks suffered a large loss of exchange rate after the European Commission proposed to initiate an excessive deficit procedure against Italy as a result of the deterioration of the public finances. The Italian banking sector index fell by two percent on Wednesday.
The price of oil fell sharply due to the unexpected rise of US oil stocks last week. For the first time since February, the price of the WTI was under $ 52. At the end of the European trading period, Brent crude oil prices stood at 2.63 percent below $ 60.34 per barrel, while the WTI price dropped by 3.95 percent to $ 51.37.
The dollar’s exchange rate is close to seven-week low due to the Fed’s interest rate cut on Tuesday. At the end of the European trading period, the euro was listed at 0.02 percent more at $ 1,1254.
The price of gold, reflecting the escalation of trade tensions and the weakening of the dollar, is at three-month highs, 0.43 percent higher at $ 1334.35 per ounce.