Stock markets in Europe and Asia have seen a pick-up on Monday. Investors await this week’s key interest rate decisions in the US and elsewhere.
Stock markets in Europe and Asia have seen a pick-up on Monday. Investors await this week’s key interest rate decisions in the US and elsewhere.
Among other things, the London and Frankfurt stock exchanges were on a cautious rise from the early afternoon Finnish time. The Euro Stoxx 50 index of the euro area’s largest companies also rose by one percent. The upbeat sentiments have also been transmitted to the Helsinki stock exchange, which was up just under one percent in the afternoon.
In Asia, the indices of Tokyo and Hong Kong closed higher at the end of the trading day.
In the currency market, both the euro and the pound had weakened slightly against the dollar in the afternoon. The price of a barrel of crude oil, on the other hand, was falling, as both West Texas Intermediate and Brent, the reference quality of the North American market, had declined by about half a percent.
Technology giants announce their results
New interest rate decisions are expected from the US, UK and Japanese central banks this week. In addition, fresh employment figures from the United States are to be announced this week.
– Although no changes are expected from this week’s meeting of the Federal Reserve (US central bank), it is very likely that interest rates will be cut in September, says market leader Richard Hunter from the Interactive Investor investment service.
The British central bank, the Bank of England, on the other hand, may cut interest rates for the first time since the corona pandemic, because British inflation has fallen significantly this year, analysts say.
The earnings announcements of large multinational companies will also continue this week. For example, US technology giants Microsoft, Meta, Amazon and Apple publish their interim reports.
Last week, electric car manufacturer Tesla and technology company Google’s parent company Alphabet announced their results.
Source: AFP