Monday , February 6 2023

Global stock markets are on the rise, as investors are cheering on the US Congress


Stock markets grew on a global scale on Wednesday, as investors encouraged the results of the US medium-term election, which, by providing a congress that was not lightweight, undermined the fears that President Donald Trump's tax cuts or cancellation measures would be lifted.

The European index of Stoxx 600 was closed by 1 percent, while in Dublin, the total Iseq index increased by 1.9 percent to 6,254.77.


Kerry Group gained 2.6 percent to 93.70 euros, as the taste and nutrition giant published a solid trade update, which showed that in the first nine months of the year, business volumes rose by 3.5 percent.

CRH also had demand, rising 3.3 percent to 26.51 euros, on Tuesday the recovery from the pendulum was again due to the fact that the markets were prepared for the US medium-term election result, when the Democrats regained control of the House of Representatives, while Republicans tightened the Senate more rigorously.

"As the Democrats take over the Parliament, we will now have to look at what congress means politics. As far as the impact on the market is concerned, the congress has historically been the securities market and we hope to see the same model again," said Torsten Slox, senior international economist at Deutsche Bank.

Malin Corporation has added 7.5 percent to 4.28 euros, hoping that a life sciences investment company, whose shares are currently trading at just over 40 percent of its initial public offering price in 2015, will offer investors hope for a future strategy in capital markets Thursday afternoon

The bucking trend, the permanent TSB lost 2.5 percent to 1.92 euros, ahead of Thursday's lender's upsurge.


The FTSE 100's largest stock index gained 1.1 percent, driven by the new optimism of Brex's talks.

Among the fallen, ITV had the worst result – by 2.7 percent. The broadcaster said an increasingly uncertain economic outlook could have affected revenues over the past three months, thus mitigating the effects that have been slightly better than anticipated so far.

The sales volume in Marks & Spencer fell in the first half of the financial year, and the demand for clothing and food caused by the disruption was following the latest attempt to reinvent Britannia's most famous retailer.

Its shares gradually reduced their losses to 0.5 percent.

Britain's G4S shares fell by more than 17 percent after the world's largest security firm announced that profits will not increase this year.


The Spanish banks were at the center after the government reacted to a court ruling that would force its customers to pay a stamp duty on mortgages by promising to pass a law to force banks to pay tax.

Bank shares initially related to a court decision fell after the government's announcement after a start, but largely benefits after it became clear that the new law would not be applied retrospectively.

Caixabank Sabadell, BBVA, Santander and Bankia went up by 1.8% and 4.1%.

The company's performance announcements sparked some of the biggest movers across Europe, with Scout24, Ahold, and Vest increasing by 6.2 percent and 7.6 percent after strong updates. Adidas lost 3.6 percent, as the sportswear company cut its revenue target following a decline in sales in Western Europe.


Risk Factors were also supported in Wall Street early in the afternoon, as investors split the US medium-term election results.

Election relief suggests that the election was amazed by the most technology shares that peaked in the October auction, and Nasdaq 100 increased by more than 2 percent. Amazon Com and Netflix at one point was more than 5 percent.

Dow Jones Industrial Average grew by 1.1% to 25,912.16, while S & P 500 – 1.3%.

Health insurers Humana, Anthem and the UnitedHealth group ranked record high as three more countries approved an electoral program that approved the Medicaid program for people with low incomes.

Among the holidays was the luxurious handbag maker Michael Kors and cosmetics manufacturer Coty, which, after uncertain quarterly revenue estimates, declined. – Additional Reuters, Reuters, Bloomberg

Source link