Stoxx 600 Rises in Early Trading, Focus on UK and Beijing
European stock markets opened higher on Thursday (May 14), with the Stoxx 600 index rising around 0.3% shortly after the opening bell. Most sectors and major bourses were positive, while market participants also awaited a series of corporate releases from National Grid, 3i Group, Aviva, and Telefonica.
Data-wise, attention is focused on the release of UK first-quarter GDP. However, in Europe, the UK political agenda remains a key factor influencing risk perceptions, as internal government dynamics are still considered vulnerable to a leadership challenge.
Reports on Wednesday suggested that Health Secretary Wes Streeting could launch a leadership bid on Thursday, adding another layer of uncertainty to the market. Investors are monitoring the direction of UK borrowing costs, as changes in expectations of political stability could quickly be reflected in risk premiums and domestic asset movements.
Globally, attention is also focused on US President Donald Trump's visit to Beijing for a summit with Chinese President Xi Jinping, amid hopes for stabilizing relations between the two countries. In Asia-Pacific, markets were mixed overnight, while S&P 500 futures were flat after a narrow gain in technology stocks pushed the index to a record high on Wednesday. (asd)
Source: Newsmaker.id
