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Taking advantage of the rebound of the Asian and American stock markets, the European stock markets are following the movement and are expected to rise this Tuesday.
The major European stock markets are expected to rise today. Index futures suggest an increase of 0.48% for the Dax in Frankfurt, 0.29% for the FTSE 100 in London and 0.49% for the EuroStoxx 50. The Paris market is expected to open higher on Tuesday, with investors buying on the cheap while obviously remaining mindful of the risk of slowing global economic growth. Indeed, at around 8:40 a.m., the CAC 40 index futures contract was gaining 24.5 points, or 0.4%, according to data from broker IG.
With global stock markets “massively oversold, bargain hunters have been preparing their lists for some time, and now they are making their purchases,” observed Naeem Aslam, an analyst at Avatrade. “However, one should take an extremely cautious approach to the markets, as the rebound could be short-lived,” the analyst added.
All should thus amplify the rebound started Monday after the strong declines of recent weeks. But if the hunt for bargains seems logical in the current context, it is still too early to talk about a sustainable rebound. The main event of the week will be the congressional hearing of Jerome Powell, the chairman of the Federal Reserve, which will be held on Wednesday, one week after the three-quarter point rate hike decided by the central bank.
In the world
Wall Street is expected to be in the green after the three-day weekend that followed the worst week for the Standard & Poor’s 500 Index since March 2020. Index futures suggest a rise of 1.3% for the Dow Jones, 1.41% for the Standard & Poor’s 500 and 1.46% for the Nasdaq. Affected by the renewed appetite for riskier assets, the dollar gave up 0.28% against other major currencies, including the euro, which rose to 1.0519 (+0.10%).
On the Tokyo Stock Exchange, the Nikkei index finished up 1.84%, its best performance since the end of May, benefiting from renewed interest in cyclical and technology stocks.
In China, the rise at the beginning of the session, favored by renewed optimism on the real estate market, lost steam as the hours passed and the major indices are now in the red: the Shanghai SSE Composite lost 0.84% and the CSI 300 0.76%. In Hong Kong, however, the Hang Seng rose by 1.23% and the local technology index by 1.02%.
Read also > EUROPEAN AND ASIAN STOCK MARKETS OPENED LOWER ON MONDAY MORNING, DRAGGED DOWN BY US INFLATION FEARS
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Taking advantage of the rebound of the Asian and American stock markets, the European stock markets are following the movement and are expected to rise this Tuesday.
The major European stock markets are expected to rise today. Index futures suggest an increase of 0.48% for the Dax in Frankfurt, 0.29% for the FTSE 100 in London and 0.49% for the EuroStoxx 50. The Paris market is expected to open higher on Tuesday, with investors buying on the cheap while obviously remaining mindful of the risk of slowing global economic growth. Indeed, at around 8:40 a.m., the CAC 40 index futures contract was gaining 24.5 points, or 0.4%, according to data from broker IG.
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Taking advantage of the rebound of the Asian and American stock markets, the European stock markets are following the movement and are expected to rise this Tuesday.
The major European stock markets are expected to rise today. Index futures suggest an increase of 0.48% for the Dax in Frankfurt, 0.29% for the FTSE 100 in London and 0.49% for the EuroStoxx 50. The Paris market is expected to open higher on Tuesday, with investors buying on the cheap while obviously remaining mindful of the risk of slowing global economic growth. Indeed, at around 8:40 a.m., the CAC 40 index futures contract was gaining 24.5 points, or 0.4%, according to data from broker IG.
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