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The European markets are picking up pace


The main European indices are moving upwards, laying the foundations for a positive week, as fears for the tightening of monetary policy worldwide seem to have declined to some extent in recent days.

In particular, the pan-European Stoxx 600 is up 441.38 points, up 0.8%, boosted by the financial sector, which is up 1%, while the defense utility sector is down slightly by 0.4%.

Elsewhere in Europe, the German DAX rose 0.78% to 14,342 points, the French CAC 40 rose 0.89% to 6,467 points, while the British FTSE 100 followed with lower gains of 0.23% and traded at 7,581 units.

The markets of the European region show a similar picture, where in Italy the FTSE MIB remains around unchanged at 24,551 units, while the IBEX 35 in Spain strengthens slightly by 0.24% and is at 8,909 units.

In general, the investment mood seems to have strengthened in recent days, especially after the positive reaction with which Wall Street welcomed the minutes of the May meeting of the Fed, which showed that the bank officials are determined to proceed with more interest rate hikes if necessary. in order to tame inflation.

In addition, the fact that despite the rapid rise in prices in both the US and Europe, retailers continue to announce impressive quarterly figures that exceed market estimates, suggesting that economies may be resilient in order to avoid the recession that monetary tightening usually brings.

Elsewhere, the mood was positive in the morning and in Asian markets after the encouraging results. of Chinese Alibaba Colossi and Baidu for the last quarter.

In the US, futures are showing slightly upward trends, after a strong session that ended with a jump of 500 points for the Dow Jones and 2.7% for the Nasdaq, the second consecutive after the Fed minutes.

Finally, oil prices are moving with small losses after the new jump yesterday that brought crude to a high of about two months, while gas in
Europe sees the de-escalation of price pressures continue, which is falling in Amsterdam today by 1.2% and stands at 84.9 euros per megawatt hour.

Source: Capital

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