Europe closes higher as Brent hits $80 per barrel

Markets 5/17/2018, 5:32 PM
Europe closes higher as Brent hits $80 per barrel

European stock markets finished the Thursday trading session with gains as oil prices reached their highest levels in three and a half years, with Brent hitting $80 per barrel earlier in the day amid looming US sanctions against Iran. Meanwhile, leaders of the European Union agreed earlier today to remain in the Iran nuclear deal despite the US absence and prepared measures to defend the interests of European companies dealing with Iran against potential US sanctions. Also, the President of the European Commission, Jean-Claude Juncker said that the EU will launch on Friday moves to prevent US sanctions against Iran.

The FTSE 100 gained 0.59% at the closing bell, with Experian the best performer. The DAX added 0.78% to finish the trading session in the green, with pharmaceutical companies leading the way. Meanwhile, the main French index CAC 40 extended its winning streak to end the trading day 0.86% higher, with Renault contributing the most.

The euro was 0.08% lower against the dollar to sell for 1.1796 at 5:31 pm CET, while the pound gained 0.19% versus the greenback to go for 1.3513 at the same time.

Breaking the News / FH

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UK 100 Index+0.84%

7,070.25
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EUR/USD+0.02%

1.1581
Chart for: EUR/USD Spot

Germany 30 In...+1.48%

11,778.10
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France 40 Ind...+1.68%

5,169.50
Chart for: France 40 Index