Slight gains in European markets; Let's know the reason
Let us tell you that there was a slight uptick in the European markets; The reason for this is the UK's major U-turn on tax cuts
Let us tell you that the European markets were at a higher level on Monday,
As traders digest a major financial U-turn in the UK,
With the help of which the prices of sterling and government bonds went up.
Let us tell you that the new Finance Minister Jeremy Hunt's cancellation of most of the policies announced in the budget on 23 September led to a gain in the pound.
Due to which the pound was up about 1.2% against the dollar and was trading around $1.1301 in the afternoon,
Due to this, all the sectors and major stock markets remained relatively flat, but all remained positive till morning.
Also auto gained 6.8%, followed by food and beverages at 6% and basic resources at 5.9%.