February 3, 2023

Raven Tribune

Complete News World

Europe’s markets are open to close

LONDON – European markets were higher in morning trade, as investors assessed China’s reopening and await key European inflation numbers.

Britain’s FTSE 100 rose 2.1%, while Germany’s DAX and France’s CAC 40 both gained about 1.4%.

Generally, pan-European Stokes 600 It rose 1.8%, led by travel stocks, up 3.1%.

German preliminary inflation figures for December are due on Tuesday afternoon, followed by French numbers on Wednesday and Italy on Thursday.

UK markets were closed on Monday, however Stocks rose across the rest of the continent Manufacturing data in the eurozone indicated that the worst may have passed for the 20-country currency bloc.

The figures gave hope in light of the end of the tunnel, after a year plagued by recessionary fears as central banks around the world aggressively raised interest rates to rein in spiraling inflation.

Meanwhile, markets in the Asia-Pacific region It was mixed overnight as investors weigh the short-term effects of a spike in coronavirus infections in China against the potential long-term boost from the full reopening of the world’s second-largest economy.

The Caixin PMI showed a further dent in factory activity due to a rise in Covid infections, but the survey also put business confidence around the 12-month outlook for production at its highest level since February 2022.

Global investors will also be watching minutes from the Fed’s December policy meeting, scheduled for release on Wednesday.

The central bank raised interest rates by 50 basis points in December after four consecutive increases of 75 basis points, and markets will be keen to gauge the likely course of monetary policy in 2023.

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