Earlier today we saw a reversal of yesterday’s fortunes as European stock markets recouped some of the ground that was lost yesterday.
Lack of progress on ceasefire talks dents stocks
Despite the ongoing Russian invasion of Ukraine, the mood in the markets has swung around and stocks are enjoying a major rally.
Equity markets are higher across the board as European traders picked up the bullish baton from their counterparts in Asia overnight, and the optimistic mood is doing the rounds in the US too.
Stocks in Europe are up on the session as The People’s Bank of China cut the borrowing cost on 700-billion-yuan worth of one-year medium-term lending facility loans to 2.85%.
It has been a busy 24 hours for central banks as the Federal Reserve announced its tapering plans last night, and today, the Bank of England kept rates on hold, disappointing may traders.
Stock markets in Europe are showing modest losses as the mood has been dampened by the latest quarterly results from Amazon and Apple.
The mood in the markets is upbeat as Evergrande, the struggling Chinese property firm, made a loan repayment, and that alleviated fears that the company might go down the route of a debt spiral.
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