|Day's range||7,179.31 - 7,278.00|
|52-week range||5,628.42 - 7,581.26|
European stock markets traded higher Friday after the U.S. debt ceiling bill passed through Congress, while the latest French industrial production data impressed. The U.S. Senate late on Thursday passed legislation that suspended the government's $31.4 trillion debt ceiling for two years, a day after the House of Representatives approved the bill. It now heads to the White House to be signed into law by President Joe Biden, just days before a June 5 deadline for a default which would have had severe economic consequences globally, thus ending a key source of anxiety for financial markets over the past month.
European stock markets traded higher Thursday, helped by progress in the U.S. debt ceiling bill as well as signs of life in the Chinese manufacturing sector. This private survey contrasted with the weak official government data released earlier this week, and offered hope of a recovery in this major regional growth engine, which also acts as a major export market for many of Europe’s largest companies.
European stock markets traded sharply lower Wednesday after disappointing Chinese manufacturing data weighed on sentiment, with key regional inflation data also in focus. Data released earlier Wednesday showed that the Chinese manufacturing sector shrank in May, retreating for the second straight month. China’s official manufacturing purchasing managers’ index was 48.8 in May, below the expected 51.4 and the prior month’s reading of 49.2.
European stock markets edged lower Tuesday, with investors anxious to see how the weekend’s U.S. debt ceiling agreement will proceed through Congress. President Joe Biden and House Majority Leader Kevin McCarthy reached an agreement over the weekend to lift the $31.4 trillion federal debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs.
Markets started the week in the green, with the Ibex 35, CAC 40 and DAX buoyed by U.S. President Joe Biden's confirmation on Sunday that he has reached a tentative agreement to raise the debt ceiling with House Republican leader Kevin McCarthy, and that the text is ready to be voted on in Congress. This eliminates it as a potential issue in the 2024 presidential election. Analysts at Link Securities said that welcome the agreement as it will prevent the country from defaulting on its payment commitments, which investors had been fearing.
European stock markets traded in a mixed fashion Friday, helped by better-than-expected British retail sales while a deal to raise the U.S. debt ceiling looks set to go to the wire. Data released Thursday showed that retail sales in the U.K. rose 0.5% on the month in April, more than expected, with consumers remaining surprisingly resilient in the face of a cost-of-living squeeze. Sentiment was also boosted by a Reuters report that suggested negotiators appear to be closing in on a deal that would raise the government's $31.4 trillion debt ceiling for two years, with just $70 billion separating the groups on a total figure that would be well over $1 trillion.
European stock markets retreated Thursday after data showed Germany, the region's largest economy, slipped into recession in the first quarter of the year. At 03:15 ET (07:15 GMT), the DAX index in Germany traded 0.2% lower, the FTSE 100 in the U.K. dropped 0.4% and the CAC 40 in France fell 0.3%. This meant that Europe's main growth driver suffered from a winter recession.
Investing.com - European markets are in the red this Wednesday - IBEX 35, CAC 40, DAX - following yesterday's declines on Wall Street and this morning in Asia. Investors remain very attentive to the current situation of negotiations between Republicans and Democrats in the United States over the debt ceiling.
European stock markets traded sharply lower Wednesday as sticky U.K. inflation suggested more monetary tightening ahead while negotiations to raise the U.S. debt ceiling made little progress. At 03:30 ET (07:30 GMT), the DAX index in Germany traded 1.3% lower, the FTSE 100 in the U.K. dropped 1.4% and the CAC 40 in France fell 1.6%. Data released earlier Wednesday showed that the U.K.'s headline inflation rate fell by less than expected in April, dropping to 8.7% from 10.1% the prior month, while core inflation, which excludes volatile food and energy prices, surged to 6.8%, a 31-year high.
European stock markets traded in a mixed fashion Monday, with investors cautious as negotiations surrounding the potential raising of the U.S. debt ceiling continue. At 03:20 ET (07:20 GMT), the DAX futures contract in Germany traded 0.3% lower, CAC 40 futures in France dropped 0.2%, while the FTSE 100 futures contract in the U.K. dropped 0.1%. Europe's macro calendar is fairly light today, with May eurozone consumer confidence data and speeches from European Central Bank officials Luis de Guindos and Philip Lane the main highlights.
European stock markets traded higher Friday, benefiting from the global optimism that a U.S. debt default will be avoided. Senior U.S. congressional Republican Kevin McCarthy indicated on Thursday confidence that an agreement to lift the U.S. debt ceiling, and thus preventing the country from defaulting on its obligations, could be achieved in the near future. Friday has been relatively quiet in terms of corporate results, but Smiths Group (LON:SMIN) stock rose 0.8% after the U.K. engineering group lifted its 2023 revenue guidance after reporting strong third-quarter results.
European stock markets traded higher Thursday, with investors optimistic of a deal to lift the U.S. debt ceiling while awaiting comments from ECB chief Christine Lagarde. Investors have been buoyed by the apparent determination of President Joe Biden and top U.S. congressional Republican Kevin McCarthy to reach an agreement soon, with Biden cutting short an Asia trip to return to talks on Sunday.
European stock markets are expected to open largely unchanged Thursday, as investors await further news on the potential for a deal to lift the U.S. debt ceiling deal as well as comments from ECB chief Christine Lagarde. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% lower, CAC 40 futures in France dropped 0.1% and the FTSE 100 futures contract in the U.K. fell 0.1%. Investors have been buoyed by the apparent determination of President Joe Biden and top U.S. congressional Republican Kevin McCarthy to reach an agreement soon, with Biden cutting short an Asia trip to return to talks on Sunday.
The looming U.S. debt ceiling deadline and the potential for a catastrophic U.S. debt default has created a degree of nervousness throughout global markets. Talks between U.S. President Joe Biden and Republican Kevin McCarthy, the speaker of the House of Representatives, failed to come up with a deal on Tuesday, hitting sentiment in Europe.
European stock markets traded largely higher Tuesday, with investors digesting global growth concerns, political uncertainty as well as more corporate earnings. The European Commission on Monday lifted its gross domestic product estimate higher for this year, now forecasting 1% growth, up from a previous 0.8% estimate. The preliminary estimate of the euro zone’s first quarter gross domestic product is scheduled to be released later in the session, and is expected to show the region barely grew in the opening three months of the year.
FTSE 100 closes the week higher as the UK economy returned to growth.
European stock markets are expected to open marginally higher Friday ahead of the release of a deluge of economic data in the region, highlighted by quarterly U.K. growth numbers. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France climbed 0.2% and the FTSE 100 futures contract in the U.K. rose 0.1%. Investors have fretted through much of the week amid concerns about the ongoing banking crisis and the debt ceiling impasse in the U.S., as well as a global economic slowdown.
European stock markets edged lower Wednesday on signs of slowing growth ahead of the release of key U.S. inflation data while the earnings season continues. By 04:55 ET, U.S. crude futures traded 1.5% lower at $72.59 a barrel, while the Brent contract dropped 1.5% to $76.30.
European stock markets edged lower Tuesday, as investors digested soft Chinese trade data ahead of the latest U.S. inflation report and the Bank of England’s policy-setting meeting. European equities have benefited from generally positive earnings this quarter to date, with results from the banking sector showing a degree of strength, especially given the ongoing turmoil across the pond.
European stock markets are expected to open in a cautious manner Tuesday, as investors digest the latest Chinese trade data ahead of the latest U.S. inflation report and the Bank of England’s policy-setting meeting. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France traded largely flat and the FTSE 100 futures contract in the U.K. rose 0.1%, with the U.K. financial markets returning from a public holiday.
European stock markets are expected to open higher Friday, helped by positive results from tech giant Apple (NASDAQ:AAPL) as investors digest the European Central Bank’s monetary policy decision and await the key U.S. jobs report. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France climbed 0.2%, and the FTSE 100 futures contract in the U.K. rose 0.3%. The European Central Bank delivered its seventh straight hike on Thursday, as widely expected, but slowed the pace of its policy tightening with a quarter percentage point increase.
European stock markets fell Thursday, as investors digested a deluge of quarterly corporate earnings ahead of the European Central Bank’s latest monetary policy decision. The ECB is in focus Thursday, with the central bank widely expected to tighten monetary policy later in the session, lifting interest rates for the seventh time, following Wednesday’s lead by the U.S. Federal Reserve. The Fed delivered an interest rate hike of 25 basis points on Wednesday, bringing the federal funds rate range to 5%-5.25%, the highest level since August 2007, but also signaled it could pause its year-long tightening cycle in June.
European stock markets are expected to open in a mixed fashion Thursday, as investors await the European Central Bank’s monetary policy decision following the latest hike by the Federal Reserve. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% higher and CAC 40 futures in France climbed 0.1%, while the FTSE 100 futures contract in the U.K. fell 0.2%. The Fed delivered an interest rate hike of 25 basis points on Wednesday, bringing the federal funds rate range to 5%-5.25%, the highest level since August 2007.
European stock markets traded higher Wednesday, as generally positive earnings from the banking sector boosted confidence ahead of the conclusion of the crucial Federal Reserve policy meeting. The quarterly earnings season has given European investors something to digest as they wait for the latest policy news from the Federal Reserve, due later in the session.
European stock markets largely edged higher Tuesday, helped by positive earnings from banking giant HSBC ahead of the start of the crucial Federal Reserve policy meeting as well as the release of the latest Eurozone inflation data. HSBC (LON:HSBA), Europe’s largest bank by assets, reported a tripling of quarterly profit, as rising interest rates worldwide boosted its income and helped it pay a first quarterly dividend since 2019. In other corporate news, BP (LON:BP) stock fell 3.7% despite the energy giant posting a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading.