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European stocks closed higher
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Loading...The indices in Europe closed higher today, after 3 days of declines. FTSE went higher by 0.24% to 7,452.32, DAX was higher by 0.33% to 12,305.11, CAC finished up by 0.56% to 5,190.17, and IBEX 35 up by 0.49% to 10,575.40. Investors continue to buy stocks in Europe. Stoxx 600 also showed growth by 0.52%.
Britain's economy showed growth as the GDP data came in at 0.3%, after it almost stopped growing during the first quarter of this year. The data from the UK will probably make the BoE to stay put and not to increase the rate in the country, as risks still exists. Energy stocks gained the most among the sectors, as the crude oil price reached almost $49 per barrel. Tullow Oil traded higher by 8%, British American Tobacco trader higher by 0.3%, and Kion Group climbed by 7.3%, after better than expected financial results. Auto producers went higher, with Daimler showed increased profits by 2% and Peugeot showed 4.1% profit growth.
The USD went up slightly, but this is probably just a pause within the downtrend. Traders are expecting the FED's rate decision at 21:00 (our time). We expect no change at today's meeting and if this is the case it will support the indices and stocks, but it will be negative for the USD. The Euro continue up as it reaching its highest level for this year. Now it trades at horizontal resistance but if there is a break around the area of 1.1714-1.1780, then next aim will be at 1.20. JPY was lower, with USD/JPY reached 111.39.
Source: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
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