Last update 14:20
A significant part of yesterday’s strong losses are deleted by the European indices, with buyers having returned strongly to the forefront after the signs of de-escalation in the Ukrainian crisis.
In particular, the pan-European index is moving with gains of 1.3% to 466.86 points, with almost all its sectors in a positive sign and the automotive sector leading the rise with + 1.9%.
The climate is similar in the domestic European markets, with the DAX in Germany trading at 15,388 points with + 1.8%, the French CAC 40 at 6,960 points with + 1.6%, while the British FTSE 100 follows with milder increase by 0.8% and 7,588 points.
In the European region, the Italian FTSE MIB strengthened by 1.85% moving to 26,903 units, as well as the IBEX 35 in Spain which increased by 1.3% and is at 8,687 units.
As mentioned above, geopolitics remain in the spotlight of investors, as the possibility of Russian invasion of Ukraine yesterday brought a mini sell off in European indices with losses of more than 2%.
However, the news today that part of the Russian forces located on the Ukrainian border is returning to its bases, shows that it has restored calm in the ranks of investors, as reflected in the boards.
In addition, the focus will be on diplomatic moves today, as Russian President Vladimir Putin will hold talks with German Chancellor Olaf Solz, who is visiting Moscow.
Elsewhere, the investment community continues to turn its attention to the US Federal Reserve, with the market trying to assess how aggressively it will move in its impending interest rate hike.
For his part yesterday, the member of the Board St. Louis Banker and Fed Chairman James Bullard reiterated his position on raising interest rates by 100 basis points by June, possibly meaning a 50-point increase in March.
In sub-shares, the Banco BPM stock rose more than 2.4% after Morgan Stanley upgraded it to “overweight” by raising the target price.
On the contrary, the Swiss Temenos is “falling” with a dip of 11.2% having lost the estimates in its quarterly results.
In the macro news of the day, GDP in the eurozone grew by 0.3% on a quarterly basis, according to Eurostat, confirming initial estimates.
On an annual basis, the growth rate stood at 4.6%, also confirming the first estimate, an indication that Omicron did not deal a significant blow to economic activity.
In Britain, corporate payroll rose 108,000 in January, while the unemployment rate remained unchanged at 4.1% in the quarter to December, lower than analysts had expected 4.2%.
Consumer prices in Spain rose 6.1% year-on-year in January, with structural inflation reaching 2.4%, its highest level since 2012.
Finally, the Dutch economy moved at a rate of + 0.9% in the fourth quarter of 2021 and 4.8% for the whole of 2021.
Source: Capital

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