Rise in Euromarkets with a “look” at interest rates in England

Rise in Euromarkets with a “look” at interest rates in England

Posted on

European shares opened the session higher on Thursday (20/6), with British investors looking ahead to the Bank of England’s decision on key interest rates.

In particular, the pan-European Stoxx 600 index strengthened by 0.31% to 515.72 points, with most sectors and the main stock exchanges in positive territory. Technology stocks led the gains, rising 1 percent, while food and beverage stocks fell 0.6 percent.

In Germany the DAX strengthened by 0.68% to 18,194.05 points, in Britain the FTSE 100 advanced higher by 0.28% to 8,226.55 points, in France the CAC 40 gained 0.54% to 7,611.44 points, in Spain the IBEX 0.35% and 1.35% increase in Italy the FTSE MIB recorded gains of 0.35% to 33,520.00 points.

Meanwhile, UK traders will focus on the Bank of England’s interest rate decision today (20/6), although the central bank is widely expected to keep rates steady at 16-year highs. 5.25%, with most economists polled by Reuters forecasting a decline in August, after the country’s July 4 election.

In addition, it is recalled that the data announced on Wednesday showed that the UK inflation reaches 2.0% every year in May, hit the central bank’s inflation target.

It should be seen that the central bank of Norway and National Bank in Switzerland is also due to announce monetary policy decisions on Thursday.

Norway’s Norges Bank is widely expected to keep the policy rate unchanged at 4.5%, while two-thirds of economists polled by Reuters predict the SNB will decide in favor of a 25 basis point cut. cut by 1.25%.

At the same time, investors will also be watching the results of Boohoo Group and DS Smith.

At the same time, shares of German drug discovery and development company Evotec rose more than 7% on Thursday, topping the European benchmark.

Meanwhile, Britain’s Tate & Lyle fell, with shares of the specialty food and beverage company down nearly 4% after it announced it had agreed to buy US CP Kelco for $1.8 billion.

Like other exchanges, at night, Asia-Pacific markets fell mostly on Thursday as China kept its key one- and five-year lending rates unchanged.

Also, S&P 500 futures were little changed on Thursday as investors looked for the benchmark to add to its latest record high.

Finally, on the data front, outstanding consumer confidence data from the Eurozone for June is expected to be announced.

Leave a Reply

Your email address will not be published. Required fields are marked *