Upward reaction in the European markets

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The main European indices are trying to write off some of yesterday’s strong trading losses, as the investment mood shows signs of recovery worldwide.

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In particular, the pan-European Stoxx 600 after the 1.8% dip yesterday moves today with a rise of 0.4% and is at 446.95 points, with most of its branches in positive territory outside the defense sector of utilities.

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In the European sub-boards, the German DAX is at 14,054 points with an increase of 0.94%, the French CAC 40 is strengthened by 0.3% and is moving at 6,469 points, as well as the British FTSE 100 which is up 0.6% moving at 7,426 units.

The picture is similar in the markets of the region, where in Italy the FTSE MIB is trading with gains of 0.3% and is at 23,991 points, while in Spain the IBEX 35 is strengthening by 1.1% moving to 8,671 points.

UBS is moving 0.9% higher after its strong performance in the first quarter, beating market estimates.

HSBC, on the other hand, fell 2.2% after falling sharply 27% in its quarterly earnings, mainly due to a sharp drop in revenue in Hong Kong.

In general, worries about China’s economic performance amid a prolonged tight lockdowns have eased today with local indicators recovering, which seems to have restored composure to investors in Europe.

The recovery of the climate seemed to start yesterday from the USA, where after the two-day sell-off with which it closed last week, the three Wall Street indices showed a positive reaction with the Nasdaq strengthening by 1.3%.

Today, however, the futures of the American market show slightly downward trends (Dow Jones at -0.44%).

Source: Capital

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