Ticker

6/recent/ticker-posts

Header Ads Widget

European stocks set to open higher despite shock from German PPI

European stock markets will open higher on Friday, as a positive delivery from the United States and Asia fuels growing concerns about a new wave of Covid-19 as winter enters.




Germany's federal and state governments on Thursday agreed to introduce clear new restrictions on the unvaccinated in response to a surge in cases that has brought the rate of new infections to 30 % from last winter's peak. However, they set thresholds for restrictions that are significantly higher than current levels.



By 2:10 AM ET (0710 GMT), DAX futures were up 55 points, or 0.3%, as were CAC 40 futures and French Euro Stoxx 50 futures alike.

German and euro-area markets were braced for a test after shocking October producer price inflation figures showed prices rose by 3.8% in October, bringing the exchange rate up. The annual factory gate inflation rate in Europe's largest economy amounted to 18.4%. The euro fell to $1.1355 in response. French data also showed a stronger-than-expected increase in unemployment to 8.1 percent of the workforce in October.




In the UK, FTSE 100 futures were up 0.4% after the latest GfK consumer confidence index unexpectedly rose to -14 from -17 in October. Analysts had expected the rate will fall, but data released earlier this week showed no big increase in the unemployment rate in October after the end of the government's job protection plan.

UK retail sales also rebounded stronger than expected in October, 0.8%, further highlighting the picture of an economy strong enough to withstand modest rate hikes. of the Bank of England. Even excluding fuel, where soaring prices and reports of shortages caused panic buying in October, sales were up 1.6 percent for the month.




Later on Friday, the US House of Representatives will vote on the Democrats' $2 trillion spending bill after Speaker Nancy Pelosi finally appeared to have overcome internal divisions within her party. Grandma. Wall Street will end the week on a mixed note, with broad confidence in the US economy only partially overshadowed by pocketbook uncertainty. Alibaba (NYSE: BABA) became the latest popular company to miss market expectations with quarterly results on Thursday, but mainland China stocks fell flat on Friday, with all Major indexes all rose after the People's Bank of China warned against speculators placing bullish bets on the yuan.




In the oil markets, US crude futures prices recovered overnight but of course will remain lower at the end of the week as the US, China and India plot to coordinate the release of strategic oil reserves. WTI was up 1.0% at $79.20 a barrel, while Brent was up 1.0% at $82.06. Gold futures were down 0.1% at $1,859.75 an ounce.









Relate post:

Wearing a fruit mask, but the skin is worse, why?

Online dating and 4 ways to protect your mental health

Audi revealed making electric cars nearly as profitable as internal combustion engine cars

Post a Comment

0 Comments