Europe stocks open slightly higher to round off choppy week

Soegeefx AppsEU MarketEurope stocks open slightly higher to round off choppy week


Jenni Reid

LONDON — European stocks opened in the green on Friday, rounding off a choppy week that has delivered a host of new information for investors to process.

The Stoxx 600 index was 0.1% higher in early deals as sectors traded mixed, with health-care stocks up 0.5% as utilities dipped 0.3%. The regional benchmark is nonetheless on course for one of its worst weeks of the year so far.


.FTSE FTSE 100 8158.63 -5.04 -0.06
.GDAXI DAX 18228.33 -37.35 -0.2
.FCHI CAC 40 Index 7631.21 -76.81 -1
.FTMIB FTSE MIB 33322.91 -286.94 -0.85
.IBEX IBEX 35 Idx 11032.8 -33.3 -0.3

Stateside, two sets of inflation data — the consumer price index and the producer price index — both came in softer than expected, boosting U.S. stocks. Between those readings, the Federal Reserve held interest rates steady and revised its outlook for interest rate cuts to just one in 2024.

Money market pricing continues to suggest expectations for two 25 basis point reductions from the current 5.25%-5.5% range before the end of the year, according to LSEG data.

The start of the week was dominated by market reaction to elections to the European Union’s parliament, in which far-right parties made gains, as had been forecast. But a jolt came from French President Emmanuel Macron’s surprise decision to call domestic parliamentary elections, with investors spooked by the possibility of victory for the populist, far-right National Rally party.

Auto stocks have meanwhile been rocked by the EU’s announcement of planned higher tariffs on Chinese electric vehicle makers, and a U.K. probe into emissions claims.

On Friday, attention turns to Asia, where the Bank of Japan held its benchmark interest rate but suggested it may be considering the reduction of its purchase of Japanese government bonds.

Japanese stock markets reversed losses after the decision.

Source : cnbc

Comments are closed.

This will close in 0 seconds