Equity markets in Western Europe are confidently rising during trading on Friday after falling in the previous session. The pressure on the markets on the eve of the ongoing fears of investors about the slowdown in the global economy, higher interest rates and high inflation in the United States, writes CNBC. Federal Reserve Chairman Jerome Powell said on Thursday that the Fed intends to act decisively to bring US inflation back to the 2% target, even if it creates problems for the economy in the short term. Meanwhile, consumer prices in France, harmonized with European Union standards, rose 5.4% year-on-year in April, the fastest pace since the start of the calculation of this indicator, according to final data from the Insee National Statistical Office. Thus, inflation accelerated compared to 5.1% in March. The indicator coincided with the previously announced data. Experts polled by Trading Economics also did not expect a revision. The composite index of the largest companies in the region Stoxx Europe 600 by 11:07 Moscow time rose by 1.09% and amounted to 429.03 points. The German DAX index is growing by 1.06%, the French CAC 40 – by 1.19%, the British FTSE 100 – by 1.27%. The Italian FTSE MIB and the Spanish IBEX gained 0.94% and 1.09% respectively. Deutsche Telekom AG, Europe’s largest telecommunications company, more than quadrupled its first-quarter net income and improved its full-year outlook. The company’s shares are up 0.7%. Shares of Sage Group PLC rise in price by 2.6%. The UK-based outsourcing firm saw its pre-tax profit marginally cut in the first half of fiscal year 2022 on the back of additional investment to boost growth. Meanwhile, organic operating income beat analysts’ expectations. The price of securities of Atlantia SpA grows by 0.4%. The Italian infrastructure company turned a profit in the first quarter of 2022 and increased revenue, while also confirming its guidance for 2022. The growth leaders among the components of the Stoxx Europe 600 index are the papers of the Finnish energy concern Fortum Oyj (+10.1%). In turn, the most significant fall shows the shares of the Belgian pharmaceutical company UCB SA (-12%). Source: FINMARKET.RU

Show CommentsClose Comments

Leave a comment