Upward reaction in the European markets after Monday’s slump

A small part of the lost ground was recovered today by the European stock markets, after the heavy losses they experienced yesterday, in the worst session since June 2020, with the encouraging results announcements of Ericsson and Logitech giving a boost to the investment psychology.

In particular, the pan-European Stoxx 600 Index gained 0.7% to 459.59 points after Monday’s 3.8% dip amid growing concerns that a US Federal Reserve offensive campaign to curb inflation could derail the economy. recovery.

Investors are waiting for the Fed to announce on Wednesday, after the end of the two-day monetary policy meeting, that it will start the cycle of raising interest rates in March, in order to face the jump of prices close to the highest levels of the last 40 years. The US Federal Reserve was forced to cut its interest rates to near zero in the wake of the pandemic almost two years ago in order to boost the economy.

Most analysts expect the Fed to raise a total of four interest rates this year.

In the individual boards, the German DAX index strengthened by 0.75% to 15,123.87 points, the French CAC 40 gained 0.7% to 6,837.96 points, while the British FTSE 100 gained 1% to 7,371.46 points .

In the region, the Italian FTSE MIB closed with small gains of 0.2%, while the Spanish IBEX 35 strengthened by 0.7%.

In business developments, the Swiss Logitech International jumped 6.2% after revising its earnings forecast for this year.

Sweden’s Ericsson climbed 7.6% as its core earnings for the fourth quarter exceeded analysts’ estimates.

Credit Suisse, on the other hand, fell 0.9% to a 20-month low after the bank announced it was likely to record losses for the fourth quarter.