empty
15.09.2023 07:54 PM
European Equities Surge on Back of ECB Minutes

European markets rallied on Friday, buoyed by the European Central Bank's meeting minutes from September. Besides, robust economic data from China also contributed to the growth.

This image is no longer relevant

At the time of writing, the Stoxx Europe 600 rose by 0.8%, France's CAC 40 advanced 1.36%, Germany's DAX was up 0.92%, and the UK's FTSE 100 gained 0.63%.

Stock Movers

Shares of European oil giants, TotalEnergies and Shell, climbed 0.5% and 0.3%, respectively.

British tabletop game manufacturer, Games Workshop, saw its shares skyrocket 12%. The company recently reported a 14% YoY increase in core revenues for Q3, with pre-tax profits soaring 46%. Additionally, Games Workshop declared a dividend of 50 pence per share.

Danish pharmaceutical firm Bavarian Nordic's market capitalization grew by 3.5%.

Shares of the German conglomerate Siemens, operating in electronics and power equipment, rose 2.3%.

Luxury French brands, LVMH and Kering, witnessed their stock prices ascend by 3.6% and 2.8%, respectively.

Italian banking groups BPER Banca, Banco BPM, UniCredit, and Intesa Sanpaolo enjoyed gains of 1.5%, 1.4%, 1.2%, and 1.1% in that order.

Conversely, Italian banks Banca Monte dei Paschi di Siena and FinecoBank saw a decline in market cap, slipping 0.4% and 0.1% respectively.

Hennes & Mauritz (H&M), the Swedish company owning Europe's second-largest clothing store chain, saw its shares slump by 4.6%. The company's Q3 revenues fell short of market expectations.

Market sentiment

The European Central Bank rocked markets late Thursday with their announcement following the recent meeting. The regulator decided to hike all three of its key interest rates by 0.25 percentage points.

Post the September meeting, the ECB has raised the benchmark lending rate to a historic high of 4.5%, the deposit rate to 4%, and the marginal lending rate to 4.75%. Moreover, during the post-meeting speech, ECB representatives hinted that this might be the last rate hike in the current cycle. In addition to the rate changes, macroeconomic forecasts for the eurozone countries were also released.

Today, traders are sifting through data from the eurozone and China. According to a final assessment by France's National Institute of Statistics and Economic Studies (Insee), the consumer price index for August surged by 5.7% YoY. To put this in perspective, inflation was at 5.1% in July.

On the flip side, data from China's National Bureau of Statistics revealed that industrial production in the country rose by 4.5% YoY in the past month, outperforming July's 3.7% growth. Analysts had only forecasted a 3.9% uptick for August.

Retail sales in China also saw a significant rise, growing by 4.6% YoY in August, a considerable jump from July's 2.5%. Market experts had projected an average increase of just 3%.

In another significant move, the People's Bank of China pumped 591 billion yuan into the nation's financial sector as part of its medium-term lending program. Additionally, news broke out that the regulator slashed the reserve requirement ratio for most banks by 0.25 percentage points. This move is expected to free up more liquidity in the financial system.

A crucial bolstering factor for European equities on Friday was the positivity observed in the U.S. stock market on Thursday. By the end of the trading session, the Dow Jones Industrial Average climbed 0.96%, the S&P 500 grew by 0.84%, and the NASDAQ Composite advanced 0.81%.

Trading recap from yesterday

Leading market indices closed in the green on Thursday. Stocks from the oil refining and raw materials sectors experienced the most significant gains, while automobile manufacturers trailed behind.

Specifically, the aggregate index of the largest European companies, Stoxx Europe 600, soared by 1.52%. France's CAC 40 went up by 1.19%, Germany's DAX jumped by 0.97%, and the UK's FTSE 100 saw a hike of 1.95%.

Shares of German auto giants Volkswagen, Porsche, BMW, and Mercedes-Benz dipped by 1.5%, 2.9%, 2.1%, and 1.6% respectively.

Shares of Spain's largest financial group, Banco Santander, declined by 0.9%. This comes after news that its subsidiary, Santander Consumer Bank, is closing branches in Italy due to the surging popularity of digital banking.

Market capitalization of Italian truck manufacturer, Iveco Group, slipped by 0.2% following the announcement that Anna Tanganelli will be appointed as the Chief Financial Officer from December 1st, succeeding Francesco Tanci.

Shares of Dutch investment firm Exor surged by 5.3%. Earlier, the company had approved a €1 billion buyback program. Additionally, Exor's net profit for the first half skyrocketed eight-fold YoY.

Stocks of British mining conglomerate Anglo American rocketed by 7.7%. The world's largest mining company, BHP Group, saw its stocks appreciate by 4.1%, while the market cap of Australian-British conglomerate Rio Tinto grew by 4.7%. Stocks of Swiss raw material supplier Glencore jumped 4.4%. The prime catalyst for the surging stock prices of the above-listed companies was the noticeable spike in the value of solid minerals on global markets, primarily copper.

Shares of European oil corporations British Petroleum, TotalEnergies, and Shell rose by 2.1%, 1.7%, and 2.4% respectively. A prominent surge in global crude oil prices served as a significant tailwind for these companies.

Swiss pharmaceutical company Idorsia Ltd.'s stocks took off, registering a 7.8% gain.

Market capitalization of European online retailer THG Plc plummeted by a staggering 21.3%.

Shares of the German industrial group, Thyssenkrupp, decreased by 1% following news about reorganizing operations in the decarbonization sector.

Irina Maksimova,
Pakar analisis InstaForex
© 2007-2025
Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Ringkasan Berita Pasaran AS untuk 11 Mac

Selepas penjualan besar-besaran di Wall Street yang menghantar Nasdaq 100 ke penurunan paling dalam sejak 2022, pasaran mula pulih. Niaga hadapan di S&P 500 meningkat sebanyak 0.3% selepas penurunan awal

Natalia Andreeva 11:07 2025-03-11 UTC+2

Rangkuman Berita Pasaran AS untuk 10 Mac

Niaga hadapan saham AS jatuh apabila pelabur beralih kepada aset perlindungan akibat kebimbangan yang semakin meningkat terhadap ekonomi AS yang perlahan dan risiko perdagangan. Yen Jepun mengukuh sebanyak 0.6%, mencapai

Irina Maksimova 11:37 2025-03-10 UTC+2

Rangkuman Berita Pasaran AS untuk 6 Mac

Indeks saham AS ditutup lebih tinggi, dengan S&P 500, Dow Jones, dan NASDAQ masing-masing naik lebih daripada 1%. Para pelabur memberi reaksi positif terhadap keputusan Rumah Putih untuk mengecualikan kawasan

Irina Maksimova 10:13 2025-03-06 UTC+2

Ringkasan Berita Pasaran Amerika Syarikat untuk 4 Mac

S&P 500 dan NASDAQ lanjutkan kerugian Indeks S&P 500 dan NASDAQ secara berterusan mengalami kejatuhan di tengah kebimbangan yang semakin meningkat terhadap perang perdagangan dan kesan tarif yang dikenakan oleh

Ekaterina Kiseleva 14:09 2025-03-04 UTC+2

Boeing Menghadapi Cabaran: Kemerosotan Saham, Isu Kewangan dan Tinjauan Pasaran

Pasaran Saham Amerika Syarikat: Jumlah dan Aliran Pasaran saham AS mengakhiri satu lagi hari dagangan dalam keadaan tidak stabil. Walaupun sektor teknologi terus menggembirakan pelabur, syarikat dalam sektor penjagaan kesihatan

Natalia Andreeva 23:01 2025-02-27 UTC+2

Bitcoin membuat penarikan semula

Mata wang kripto terkemuka sekali lagi telah mengecewakan peserta pasaran dengan penurunan tajam. Ramai analis mengaitkan ini dengan ketegangan geopolitik dan sentimen bearish yang mendominasi di pasaran kripto. Walaubagaimanapun, Bitcoin

Larisa Kolesnikova 10:45 2025-02-27 UTC+2

Emas: Adakah Tahap $3,000 Semakin Hampir?

Logam kuning ini terus menunjukkan aliran menaik yang telah ditetapkan awal bulan ini. Walaupun terdapat sedikit ketidaktentuan dalam pasaran emas, emas kekal berada di laluan untuk mencapai paras tertinggi baru

Larisa Kolesnikova 10:49 2025-02-26 UTC+2

Ringkasan Pasaran AS 25.02

Pada hari Isnin, niaga hadapan indeks saham AS mengalami kejatuhan yang ketara dan hanya berjaya pulih secara sebahagian pada hari Selasa, gagal mencapai tahap perubahan "positif". Niaga hadapan S&P

Natalia Andreeva 22:51 2025-02-25 UTC+2

Laporan Nvidia pada Hari Rabu: Jual Saham atau Tunggu Pertumbuhan?

Nvidia bakal mengumumkan keputusan kewangannya pada hari Rabu, dan pelabur sedang menanti dengan penuh perhatian. Pengumuman ini berpotensi menjadi titik penentu bagi saham syarikat, yang mengalami lonjakan luar biasa tahun

Irina Maksimova 23:21 2025-02-24 UTC+2

Adakah Ethereum Akan Melonjak? Sasaran Seterusnya – $3000

Menurut penganalisis, pergerakan harga terbaharu Ethereum (ETH) menunjukkan perubahan ke arah aliran positif. Pakar meramalkan potensi peningkatan dalam mata wang kripto kedua terbesar ini, dengan sasaran utama kekal pada $3000

Larisa Kolesnikova 09:41 2025-02-19 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.