European stock markets are in higher demand today, aided by expectations of a global economic recovery after the Federal Reserve reaffirmed its balanced monetary policy strategy. At the moment, the DAX in Germany is almost unchanged in sustainability, while the CAC 40 in France has an increase of about 0.4%, followed by the British FTSE 100, which gained about 0.3%. The integrated Stoxx 600 is available on green territory with about 0.35% change.
The positive tone in Europe comes after the record closing of the broad-based S&P 500 index and profits in Asia. European markets are further stimulated by attitudes towards the phasing out of lockdowns and the ongoing process of vaccination against Covid-19. The European Central Bank will rule later today on a sustainable economic recovery after the pandemic.
Oil prices have weakened after a sharp rise in US inventories raised concerns about growing global demand for crude oil. US crude inventories fell 3.5 million barrels last week, according to official figures. US futures traded 0.9% lower at $ 59.24 a barrel, while the Brent contract fell 0.6% to $ 62.78.
The price of gold rose after early declines on Thursday. Currently, the price of the precious metal is $ 1747 per ounce. The rise in price comes after the Fed’s 10-year yield yields to another day.
Shares of AstraZeneca (NASDAQ: AZN) rose 1.1% after updates from the UK and European health regulators turned out to be less negative than concerns about its Covid-19 vaccine. Shares of ABB (ST: ABB) rose 0.6% after a Swedish-Swiss retailer of electrical equipment announced a new share buyback plan.
Junior Trader Nikolay Nankov