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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

7 November 2024 15:48  |

European markets open slightly higher as Trump win settles in; Fed, BoE decisions in focus

European markets opened slightly higher as investors continued to digest Donald Trump’s presidential election win and political upheaval in Germany.

They are also awaiting monetary policy decisions from the U.S. Federal Reserve and Bank of England, with rate cuts expected from both central banks.

The pan-European Stoxx 600 index opened marginally higher, up 0.2%, with most sectors in positive territory except for healthcare, travel and leisure and telecoms stocks.

It’s been a busy morning of earnings Thursday with a number of major European firms reporting.

Germany’s DAX was trading 0.85% this morning after Chancellor Olaf Scholz sacked his Finance Minister Christian Lindner Wednesday night, effectively bringing an end to the three-party coalition. Scholz announced he would bring a vote of confidence to the German parliament on Jan. 15, raising the possibility of subsequent snap elections.

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