Global stocks moved upwards after the announcement of series of corporate profits and with the rise in European stocks affected by the corporate earnings and stronger Asian stocks of better economic returns.
The Stoxx Europe 600 Index moved upwards for the first time in the last four days, after explaining the balances of the companies, including BP plc, and ended the downturn again. Petroleum giant BP’s profits outperformed the forecasts, and for this reason, the biggest contributor to the upside came from this feeling. On the other hand, Crude Oil reversed its gains despite traders expecting the official US stock data to continue to decline on Wednesday.
But, due to the overvaluation of the valuations, the central banks’ monetary policies, and the political downturn of the US administration, the markets are cautious.
The Stoxx Europe 600 Index rose 0.3 percent. In the UK, the FTSE 100 Index has increased by 0.5 per cent and this marks the fastest rally in the last week. The DAX Index in Germany was the fastest one-week rise with 0.4 percent. MSCI Emerging Market Index rose 0.1%.
Bloomberg Dollar Spot Index climbed 0.1% while the euro fell 0.2% versus the dollar, dropping to the 1.1815 level. The Pound has fallen slightly below the 0.05% against the dollar to 1.3214.
The interest rate of 10-year US Treasury bills increased slightly to 2.30%. The interest rate of 10-year Treasury bills in the United Kingdom fell one base point to 1.223 percent. Germany’s 10-year treasury yields fell by two base points to 0.52%, the lowest level for over a week.
West Texas Oil (WTI) dropped by 0.2 percent to $ 50.06 per barrel and retreated for the first time over a week. Gold fell by 0.2% to 1,266.82 dollars per ounce, making the fastest decline in one week.
The MSCI Asia Pacific Index, from Tokyo to Sydney, climbed to its highest level since 2007, with stock indices rising. Japan’s Topix Index rose 0.6 percent. In Australia, the S & P / ASX 200 Index closed 0.9 percent higher, while South Korea’s Kospi Index finished 0.8 percent higher. In Hong Kong, the Hang Seng Index rose 0.8 percent, while the Shanghai Composite Index in China climbed 0.6 percent.