(RTTNews) – European stocks rose particularly on Monday, with optimism on earnings, the ruling party’s forged victory in Japan’s general election, easing restrictions in Australia and Thailand and stabilizing coal costs in China boosting confidence.
The tightening of policy reorients the market’s main focus, and investors are now turning to Wednesday’s Federal Reserve meeting for clues about the timing of its first interest rate hike since December 2018.
Fed Chairman Jerome Powell has already declared very broad progress on inflation (price stability) and also jobs for QE reduction.
On Thursday, the focus is on the Bank of England’s political meeting. Market participants expect interest rates to dampen inflation, but economists are not forecasting any change.
Germany’s DAX rose 0. 9%, France’s CAC 40 index rose 1. 1% and the UK’s FTSE 100 rose 0. 6%.
Swiss pharmaceutical company Novartis rose more than 1%. The U. S. Food and Drug AdministrationHe approved Scemblix (asciminib) for the remedy of chronic myeloid leukemia in two distinct indications.
French pharmaceutical company Sanofi rose 1. 8 after HSBC raised inventory to “buy. “
Danish jewellery maker Pandora fell 6. 2% despite raising its outlook for 2021.
Airline Ryanair remained solid after cutting its losses in the first part of the year.
Barclays fell 1. 7%. The lender said its chief executive, Jes Staley, would step down following investigations through BRITISH regulators into his relationship with American financier and convicted sex offender Jeffrey Epstein, who committed suicide in the United States in 2019.
German automaker Volkswagen rose about 1% amid reports that Skoda Auto is resuming production after a two-week outage due to a shortage of semiconductor chips.
In economic publications, investors ignored the knowledge that it seemed that Germany’s retail sales fell in September.
On a year-on-year basis, retail sales fell 0. 7%, in contrast to last month’s cumulative 0. 9%. Sales are expected to increase by as much as 1. 8%.