Stock Markets Rally As US Tax Cuts Move Step Closer

Umer Jamshaid Published December 18, 2017 | 05:05 PM

European stock markets jumped Monday following strong gains for Tokyo and fresh pre-weekend records on Wall Street as US President Donald Trump's tax reforms moved into sight

London, (APP - UrduPoint / Pakistan Point News - 18th Dec, 2017 ) :European stock markets jumped Monday following strong gains for Tokyo and fresh pre-weekend records on Wall Street as US President Donald Trump's tax reforms moved into sight.

Around 1115 GMT, London's benchmark FTSE 100 index was up 0.

4 percent, with gains limited by the pound rising versus the Dollar impacting multinational UK companies whose reported earnings are in the US Currency.

In the eurozone, Frankfurt's DAX 30 rallied 1.6 percent and the Paris CAC 40 advanced 1.2 percent compared with Friday's closing levels. On the corporate front, shares in Thales soared almost eight percent to 92.86 Euros -- a day after the French aerospace and defence group said it was buying European SIM manufacturer Gemalto for 4.8 billion euros ($5.7 billion) to become a global leader in digital security.