Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Investing

European shares set longest winning streak since 2019 on recovery optimism

European shares set longest winning streak since 2019 on recovery optimism

By Sagarika Jaisinghani

(Reuters) – European shares rose for an eighth straight session as optimism around a speedy economic recovery across the region lifted industrial stocks, while technology shares tracked an overnight jump in their U.S. peers.

The pan-European STOXX 600 was up 0.4% in its longest winning streak in more than two years as investors also bet on global central banks keeping the stimulus taps open.

Focus this week will be on the U.S. Federal Reserve’s two-day policy meeting starting Tuesday, where investors will be looking for insight on whether the central bank has begun discussing tapering bond purchases and if policymakers are concerned about rising inflation.

“We don’t expect officials to rush into taking a decision now, (but) it would be interesting to see whether there will be a discussion around the matter, and if so, whether we will get any hints over a potential desired pace of withdrawal,” said Charalambos Pissouros, a senior market analyst at JFD Group.

“A fast pace may suggest that Fed officials do not see the surge in inflation as transitory as they did in the past and may hurt equities.”

The benchmark STOXX 600 has scaled record highs in recent weeks, following dovish signals from the European Central Bank regarding its stance on rising inflation.

Germany’s DAX hovered near all-time highs as data showed consumer prices rose 0.5% month-on-month in May, in line with economists’ expectations.

Investors will also be looking for inflation data from across the euro zone later this week. On Tuesday, government bond yields in the bloc traded in narrow ranges, with investors awaiting the first bond issuance backing the EU recovery fund.

European industrial stocks, which are poised to benefit from an economic rebound, were up 0.9%, while technology shares rose about 1% after the tech-heavy Nasdaq ended Monday at a record high.

London’s FTSE 100 gained 0.4% as the UK posted a record jump in the number of employees on company payrolls in May as COVID-19 restrictions eased. [.L]

In company news, Sweden’s H&M, the world’s second-biggest fashion retailer, posted a jump in sales in the three months through May, while British housebuilder Bellway said it expected demand for new homes to remain robust.

Shares of both companies, however, fell 0.8% and 0.4%, respectively.

Non-Standard Finance slumped 9.5% as the British subprime lender said it was seeking to raise around 80 million pounds ($112.98 million) potentially through a share sale.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post