Europeans despite fears of inflation market Investors took stock as optimism continued for a strong economic recovery, closing the deal on a high note on Friday.
Expectations that the world’s central banks will not tighten monetary policies or reduce stimulus are supporting sentiment.
Investors were also eagerly awaiting the announcement of the US Federal Reserve’s monetary policy scheduled for next Wednesday (June 16).
The pan-European STOXX 600 rose 0.65%. The German DAX rose 0.78%, the French CAC 40 by 0.83%, the British FTSE 100 by 0.65% and the Swiss SMI by 0.26%.
Among other markets in Europe, Austria, Belgium, Finland, Ireland, the Netherlands, Portugal, Russia, Spain, Sweden and Turkey performed well.
Denmark, Greece, Iceland and Norway increased slightly, but the Czech Republic and Poland finished weak.
In the UK market, Thungela Sources Limited’s share price jumped 25.4%.
The Sanne Group’s share price increased by 12%. The specialist fund managers have confirmed that they have received a fifth unsolicited and non-binding offer from Cinven for the possibility of a full cash offer at a price of 875 pence per share.
Melrose Industries, ICP, Glencore, Smurfit Kappa Group, Evraz, Intertek Group, 3I Group, Bunzl, Standard Life, Entain, Antofagasta, Smith (DS) and Halma rose 2-3%.
Informa, Just Eat Takeaway, BT Group, Imperial Brands, Ashtead Group, Sainsbury’s (J) and Standard Chartered finished with net to moderate losses.
In France, Renault has recovered more than 7%. Valeo, Capgemini, Worldline, Faurecia, ArcelorMittal, Teleperformance, Dassault Systèmes, Airbus Group and LVMH are also making significant progress.
In the German market, BMW, Daimler, Volkswagen, ThyssenKrupp, MTU Aero Engines, Deutsche Post, Continental, RWE and Adidas increased by 1-2%. Deutsche Bank fell sharply.
In the economic press release, the United Kingdom Economy According to statistics from the Bureau of Statistics, government regulations affecting economic activity continued to be relaxed in April, resulting in the fastest growth since July 2020.
Gross domestic product rose 2.3% month-on-month in April, faster than the 2.1% increase seen in March. The rate should improve to 2.2%.
In a biannual report, the German Federal Bank predicts that the German economy will grow faster than expected, in the hope that vaccination campaigns will curb pandemics quickly and sustainably.
The central bank predicts that the eurozone’s largest economy will grow 3.7% in 2021, down from 3% previously. The outlook for 2022 has been raised from 4.5% to 5.2%.
By 2023, real GDP growth is expected to run out of steam, but it will still grow by 1.7%, the Bundesbank said.
Wholesale prices in Germany have increased at the fastest rate since mid-May 2008, according to data released by Destatis. Wholesale prices in May rose 7.2% in April and then 9.7% year on year. This is the fastest increase since July 2008, when prices rose 9.9%.
The annual growth is mainly due to a 46.8% increase in the prices of petroleum products.
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