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European stocks rebound at open, USD GDP in focus

FXStreet (Mumbai) - The European indices opened the last trading session of the week on a bullish note, bouncing-back sharply after Thursday’s poor performance, as markets respond positively to the latest comments by Fed Chairwoman Yellen, indicating a rate-hike later this year.

Stocks on the European bourses completely ignored a mixed performance on the Asian equities and a weak Wall Street close, and traded with sizeable gains as focus now shifts towards the second-quarter GDP data from the US, which may throw fresh light on the US economic prospects.

The DAX extends recovery from VW scandal-led losses

Markets seem to have moved past the recent Volkswagen emissions-scandal and confidence in the German stocks appear restored as the benchmark index, the DAX 30 rebounds +2.24% to 9,639.

While the UK FTSE 100 index rallied +1.90% to 6,075. Among the other indices, the French CAC 40 index jumps 2.47% to 4,456, while the pan-European Euro Stoxx 50 index gains 2.39% to 3,091.

Spain: Tensions building up before elections - ING

Geoffrey Minne, Economist at ING, note that tensions are reaching new heights before Sunday’s Catalan elections with both pro-independence and anti-independence camps are becoming vehement and vociferous.
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Eurozone: Markets focus on Catalonia elections on Sunday - Deutsche Bank

Research Team at Deutsche Bank, note that the event which will be worth keeping an eye on this Sunday will be the election in Catalonia.
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