The US released several economic announcements today and the bulk of which were well received, and that added to the view the Federal Reserve will stick to their course of hiking interest rates at an aggressive pace.
Once again, the mood on Wall Street is setting the tone for Europe as the impressive rebound in US stocks are helping equities on this side of the Atlantic.
Fears about highs levels of inflation and the prospect of further interest rate hikes are doing the rounds.
Stock markets in Europe racked up solid gains today as the bullish close in Asia helped the mood.
Markets have fallen back into their old habits as an increase in yields has sparked a sell-off in stocks. Equity markets experienced low volatility at the start of the week and that was because US bond yields cooled, but today the 10-year yield traded above 3%, which speed up the decline in equities.
The mood has lightened today and that has prompted dealers to swoop in a snap up relatively cheap stocks.
European stock markets are deep in the red as the brutal sell-off seen on Wall Street last night has set the tone for today.
Stock markets in Europe are pushing higher even though tensions around Russia have ticked up. President Putin has threatened to hit back at countries that are assisting Ukraine. Gas supplies into the EU are being monitored as there are some worries the energy market could become weaponised.
Last month the Associated British Foods (ABF) share price fell to an 11 month low as the company confirmed that its clothing division, Primark, experienced lower than expected sales during the summer.
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