Yahoo Finance FTSE 100 and European markets in the green despite UK growth warnings
A look at how the major markets are performing on Wednesday
The FTSE 100 (^FTSE) finished th4e day in the green on Wednesday in London, even amid pessimistic growth forecasts by a top think tank.
The UK is headed for five years of lost economic growth according to a prediction by the National Institute of Economic and Social Research (NIESR). Alongside that, the government is failing in its goal to "level-up" outside of London.
Gross domestic output is lagging and unlikely to hit levels seen before the covid pandemic before 2024, the think tank said.
The FTSE was up 0.7% by afternoon in London. Meanwhile the DAX (^GDAXI) rose 0.4% and Paris's CAC (^FCHI) was up 0.7% having gained strongly earlier in the day.
European markets took the edge off a lower close in the US and a mixed close in Asia.
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"If you look at the fundamentals, we believe that they will continue to remain highly strong," said Naeem Aslam, chief investment officer at Zaye Capital Markets. "This is because if one pays attention to the recent commentary coming out of the Federal Reserve’s members, there is more of a dovish tint in that, and it seems like the interest rates are likely to stay where they are for the time being."
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