European shares open higher
On Tuesday, European shares mostly opened higher as political uncertainty in Great Britain started subsiding and hopes for an upcoming rate decrease by the BoE backed equities.
During European morning trade, the EURO STOXX 50 managed to soar 0.78%, French CAC 40 surged 0.69%, while German DAX 30 ascended 0.69%.
Sentiment was enhanced by prospects that Theresa May is going to become the next British prime minster much earlier than expected.
The news arose when Andrea Leadsom, one of the two candidates from the UK’s ruling Conservative Party to succeed David Cameron, current Prime Minister suddently pulled out of the race.
As for equity markets, they were also backed mounting hopes for a rate decrease from the BoE at the conclusion of its policy gathering on Thursday.
Financial shares were mostly higher, as French lenders BNP Paribas as well as Societe Generale edged up 1.71% and 1.93% respectively, while German Commerzbank along with Deutsche Bank grew 1.31% and 2.16% respectively.