empty
11.01.2023 11:51 PM
European markets higher as US and Asian markets advance

Major Western European indexes were trading sharply higher on Wednesday after falling the day before. European markets advanced after a spectacular rise in US and Asian stock markets. Mining stocks rallied on strong commodity prices.

This image is no longer relevant

The STOXX Europe 600 gained 0.44% and reached 447.64 points.

The French CAC 40 was up 0.35%, German DAX climbed 0.33% and the British FTSE 100 gained 0.41%. The day before, the FTSE 100 closed the trading session in the red for the first time this year.

Biggest gainers and losers

Glencore, a Swiss supplier of commodities and rare-earth materials, and Rio Tinto, an Australian-British metals and mining company, rose more than 1%. On Wednesday, copper prices approached six-month highs. Metal prices jumped on brightening demand outlook in China.

Direct Line, a British insurance company specializing in auto and property insurance, plummeted 26.6%. The company announced that it no longer expects to declare a final dividend for 2022 after a significant rise in claims. Following this news, shares of Direct Line's main competitor, Admiral, fell by 15%.

British sports and fashion retailer JD Sports soared 5.7%. The company said its total revenue was up by more than 20% over the six-week period to 31 December 2022. JD Sports adjusted pretax profit for the year ended on January 28 at the upper end of analysts' projections.

Shares of British supermarket chain J Sainsbury PLC sank 2.4%, despite the fact that the company also expects pretax profits for the year which will end in March, to be towards the upper end of market expectations amid high trading volume over the Christmas period.

Swiss chemical concern Sika AG dropped 3.5%. The company's revenue last year rose by 13%, thanks to a spectacular increase in revenues around the world. The final result of Sika AG was lower than analysts' forecasts.

The share price of Dutch bank ABN AMRO dropped by 2.1% due to the news that Lars Kramer, the company's CFO, will resign on April 30.

The British bank Standard Chartered PLC rose 0.2%. The day before the company said it was exploring strategic alternatives for the aviation unit.

Market sentiment

On Wednesday, European traders are building up their appetite for risk in anticipation of the US inflation report that will be released on Thursday.

According to analysts' preliminary forecasts, the country's consumer price level slowed to an annualized 6.5% in December from November's 7.1%.

The new inflation data will help traders predict the US Federal Reserve's further stance on monetary policy.

Moreover, investors analyzed the recent statements of the Fed officials. The day before, the head of the Fed Bank of San Francisco Mary Daly said that the US central bank will be forced to raise its key interest rate above 5% to fight the record level of inflation in the country.

Fed Chairman Jerome Powell spoke Tuesday night at the Swedish central bank conference, which was closely watched by traders around the world, but he did not touch on monetary policy or the outlook for the economy.

As a reminder, the Fed raised interest rates by 0.5 percentage points in December, bringing the target range for its benchmark rate to 4.25% to 4.5%. At the same time, US interest rates set by the Fed rose to their highest since 2007. In a commentary on December's meeting, Fed Chairman Jerome Powell said the US central bank would stay on course to tighten monetary policy until inflation returned to the 2% target.

According to the latest data of the largest North American financial derivatives market CME Group, more than 70% of experts expect the key interest rate in the US to increase by 0.25 percentage point in February, up to 4.5-4.75% per year.

US stock exchanges showed a strong performance the day before. Thus, on Tuesday, The Dow Jones Industrial Average index grew by 0.56%, the S&P 500 gained 0.7% and NASDAQ Composite gained 1.01%. On Wednesday, key indicators of the Asia-Pacific region also demonstrated spectacular positive values.

This week, investors continued to discuss news regarding China's easing of its extremely strict quarantine restrictions. As of January 8, the Chinese government opened its borders with Hong Kong and also canceled a mandatory quarantine for travelers arriving from abroad. At the same time, a negative coronavirus test will be required to enter the country.

In addition, Beijing authorities had previously reduced its infection monitoring level, rejecting the legal basis for the introduction of enhanced quarantine measures.

In response, some countries have tightened requirements for visitors from China. For example, the US has introduced mandatory testing for those arriving by air from China, beginning on January 5.

Traders around the world have been seriously concerned about China's "zero-Covid" policy, as Chinese restrictions have had a negative impact on the economic activity and stock markets.

At the end of November, mass protests erupted in Shanghai against strict quarantine measures of local authorities. The protesters were dispersed by local police using gas canisters.

Markets became hopeful that mass protests in Chinese cities would force local authorities to ease restrictions across the country. The latest news from China was welcomed as a positive signal that the world's second-largest economy could once again grow strongly in the future.

Previous trading session

On Tuesday, major Western European indexes closed in the red zone.

The STOXX Europe 600 fell by 0.6% to 445.71 points.

French CAC 40 lost 0.55%, German DAX decreased 0.12% and British FTSE 100 declined 0.39%.

Spie S.A., a French company specializing in the fields of electrical, mechanical and climatic engineering equipment, plummeted 5.7%.

Shares of Softcat PLC, a British provider of IT infrastructure solutions, fell by 5.1%.

British video games developer Games Workshop Group PLC dropped by 4.8%.

Shares of British Internet food delivery company Deliveroo PLC decreased by 3.8%.

Danish energy company Oersted A/S increased by 3.6%.

German multinational manufacturer of luxury vehicles and motorcycles Bayerische Motoren Werke AG (BMW AG) gained 0.6%. The company reported that its sales of electric cars more than doubled last year.

UK retail chain Tesco Plc went up by 0.4%.

Shares of British supermarket chain J Sainsbury Plc jumped by 0.9%.

British recruitment company Hays Plc plummeted by 6.9%.

French medical equipment manufacturer Orpea S.A. jumped 7.4%.

On Tuesday, European traders also analyzed economic data for countries in the region. The National Statistical Office of France Insee reported that French industrial production increased in November compared to October when it fell by a revised 2.5%. Industrial production in France grew as activity returned to normality after strikes at refineries caused a sharp fall in October's output.

Thus, industrial output rose 2.0% in November. At the same time, earlier experts had expected the index to grow by only 0.8%.

A new report from the British Retail Consortium has stated that, in the UK, retail sales grew by 6.5% during December 2022 compared to the previous year and also accelerated from a 4.1% rise in November.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

7月2日美國市場新聞摘要

S&P 500指數下跌0.11%,納斯達克100指數下跌0.82%,而道瓊斯指數則上漲0.91%。投資者正在等待宏觀經濟數據的發布,這些數據可能會影響美聯儲的下一步政策決策。

Ekaterina Kiseleva 12:32 2025-07-02 UTC+2

特斯拉下跌,歐洲上升:全球市場現在發生了什麼

全球股市週二小幅下滑,同時美國國債收益率微升。投資者正密切分析美國經濟數據潮流,並衡量美聯儲主席杰羅姆·鮑威爾的言論,以評估何時開始降息。

Thomas Frank 10:56 2025-07-02 UTC+2

股市上揚:是什麼推動道瓊、納斯達克和標普上升

週一,標普500指數與納斯達克指數在創歷史新高後收盤,這標誌著它們在過去一年中最強勁的季度表現。投資者情緒因貿易談判的樂觀前景和降息的可能性而得到提升。

Thomas Frank 12:11 2025-07-01 UTC+2

7月1日美國市場新聞摘要

週一的交易以正面收尾:S&P 500 上漲了 0.52%,而納斯達克 100 則增加了 0.47%。今年下半年的開端是在美國與歐盟貿易協定抱有樂觀期望的背景下展開的。

Ekaterina Kiseleva 11:43 2025-07-01 UTC+2

比特幣在七月可能會遇到什麼挑戰?市場表現得憂心忡忡

傳統上,夏季的第二個月被視為比特幣的有利時期。今年這一模式很可能會重複出現,BTC可能會開始向新高攀升。

Larisa Kolesnikova 10:58 2025-07-01 UTC+2

6月30日美國市場新聞摘要

美國股市收盤走高:標普500指數和納斯達克100指數均上漲0.52%,而道瓊斯指數上漲了1.00%。投資者對貿易談判的進展表示歡迎,而這是漲勢的主要推動力。

Ekaterina Kiseleva 11:15 2025-06-30 UTC+2

對沖基金以創紀錄速度拋售能源——他們在擔心什麼?

上週,由於以色列和伊朗達成停火協議,原油價格大幅下跌超過10美元。儘管市場波動持續到週五,但OPEC+增產的消息使油價保持在每桶約81美元的近期高位以下。

Thomas Frank 11:14 2025-06-30 UTC+2

6月27日美國市場新聞摘要

主要美國股市指數以穩健的增長結束本週。道瓊斯和納斯達克均上漲了1%,而S&P 500則攀升了0.8%。

Ekaterina Kiseleva 12:56 2025-06-27 UTC+2

Nike 提振 Adidas、Puma 和 JD Sports:改變當日的報告

美國股市週四以強勁走勢收盤,標準普爾500指數和納斯達克指數雙雙接近歷史最高收盤點位。由於以色列和伊朗之間的緊張局勢持續平息,加上新的經濟指標,投資者對聯邦儲備局可能在今年晚些時候降低借貸成本的希望增強。

Thomas Frank 12:24 2025-06-27 UTC+2

6月26日美國市場新聞摘要

在政治穩定和市場樂觀情緒的推動下,唐納·特朗普正促使S&P 500指數上漲,向歷史新高邁進。 然而,分析師警告稱,目前過高的股票估值可能只有在顯著盈利增長的情況下才能持續。

Ekaterina Kiseleva 13:07 2025-06-26 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.