A positive trend is observed in European stock markets on the new trading day.
The Stoxx Europe 600 indicator index increased by 0.3 percent to 519.0 points, the DAX 40 index in Germany increased by 0.4 percent to 20,298 points, and the FTSE 100 index in England gained 0.1 percent to 8,347 points.
In Italy, the MIB 30 index is traded at 34,311 points, with a 0.7 percent increase, in France, the CAC 40 index is traded at 7,342 points, with a 0.5 percent gain, and in Spain, the IBEX 35 index is traded at 12,039 points, with a 0.9 percent increase.
Global markets are following a positive trend with the effect of the buying trend, led by technology stocks, after US Federal Reserve (Fed) Chairman Jerome Powell announced that the US economy is in good shape and this provides them with policy space for interest rate cuts.
While a positive trend is observed in the European stock markets, the political uncertainties in France and the data to be announced regarding the regional economy are in the focus of investors.
In France, Prime Minister Michel Barnier’s government lost the vote of confidence in the parliament yesterday. While President Emmanuel Macron is expected to give a speech today, the messages Macron will give in his statements regarding the country’s political road map in the coming period will be closely followed by investors.
On the other hand, European Central Bank (ECB) President Christine Lagarde pointed out that Eurozone economic growth may be weaker in the coming months. Speaking at the European Parliament’s Economic and Monetary Affairs Committee in Brussels, Lagarde said, “Survey-based data indicate that growth will be weaker in the short term due to the slowdown in growth in the service sector and the continuation of the contraction in the manufacturing sector.” he said.
According to the data released in the region today, October factory orders in Germany decreased by 1.5 percent on a monthly basis and increased by 5.7 percent on an annual basis.
Today, retail sales in the Eurozone, weekly unemployment benefit applications in the US and foreign trade balance data will also be followed.
