Daily jump in the eurozone won the sign of the week

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Technological rally pushed the European indices to the best performance of the last three months, while with today’s jump they basically won the positive sign in the week.

In particular, the pan-European Stoxx 600 index ended today with an increase of 2.6% to 412.92 points and all its sectors in a positive sign, with the technological one realizing a 3.8% rally.

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On a weekly basis, with today’s session, the index completed the five-day period with + 2.4%.

Even better was the high capitalization of the Stoxx 50, which ended with an increase of 2.8% to 3,534 units.

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In the individual European dashboards, the French CAC 40 had the performance of the day with a rally of 3.2% which brought it to 6,073 points, the German DAX strengthened by 1.6% to 13,118 points, as well as the British FTSE 100 which closed at 7,208 units with a jump of 2.7%.

The markets of the European region moved at the same pace, where in Italy the FTSE MIB rose 2.3%, closing at 22,119 points, while the IBEX 35 in Spain strengthened by 1.7%, finishing at 8,244 points.

Despite the positive climate of the day, however, concerns about the uncertainties surrounding global economies persist, with investors assessing the possibility of an impending recession on a daily basis.

Macroeconomic data also confirms this scenario to a significant extent, as consumer confidence in the UK fell to a record low today, while in Germany, business confidence deteriorated in June, with the Ifo business climate index falling. at 92.3 from 93.0 in May.

In another reading, however, the worsening outlook is likely to curb central banks’ aggression in raising interest rates while putting pressure on demand, leading to its goal of curbing brutal inflation.

In individual stock movements, the British Ultra Electronics held a rally that exceeded 12% after the government gave the green light for its acquisition by rival Cobham.

The Finnish oil refining company Neste followed the opposite course, with a dip of more than 7%.

Source: Capital

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