January 28, 2023

Europe’s markets are open to close

LONDON – European markets rose on Tuesday afternoon as investors assessed European inflation data for China’s reopening and uptake.

Among the major exchanges, Britain’s FTSE 100 rose 1.6%, while Germany’s DAX rose 1.4% and France’s CAC 40 rose 1%.

Generally, pan-European Stokes 600 It gained 1.4%, led by a 2.4% rise in travel stocks.

Germany published lower-than-expected inflation figures for December, falling to 9.6% y/y. It will be followed by inflation figures from France on Wednesday, Italy on Thursday, and a flash estimate for the entire eurozone on Friday.

UK markets were closed on Monday. Stocks rose across the rest of the continentas eurozone manufacturing data indicated that the worst may have passed for the 20-country currency bloc.

The figures gave hope in light of the end of the tunnel after a year plagued by recessionary fears, with central banks around the world aggressively raising interest rates to rein in spiraling inflation.

Meanwhile, markets in the Asia-Pacific region Investors were mixed as investors weighed the short-term effects of a spike in coronavirus infections in China against the potential long-term boost from a full reopening of the world’s second-largest economy.

The Caixin PMI showed a further downturn in factory activity due to a rise in Covid-19 infections. But the survey also put business confidence around a 12-month outlook for production at its highest level since February 2022.

we Stocks rose Tuesday, as Wall Street tried to start the new year on a strong note.

The central bank raised interest rates by 50 basis points in December after four consecutive increases of 75 basis points. Markets will be keen to gauge the likely course of monetary policy in 2023.