EUROPE OPENS UP SIGNIFICANTLY
PARIS (Archyde.com) – The main European stock markets are moving up sharply on Wednesday morning, benefiting from a technical rebound before the US Federal Reserve’s monetary policy decisions expected in the evening.
In Paris, the CAC 40 gained 1.79% to 6,960.63 points around 09:04 GMT. In London, the FTSE 100 takes 1.52% and in Frankfurt, the Dax advances by 1.86%.
The EuroStoxx 50 index is up 1.98%, the FTSEurofirst 300 1.55% and the Stoxx 600 1.58%.
“European equities are rising despite the jolts on Wall Street linked to concerns about technology stocks, which in fact eases the pressure on European cyclical stocks,” comments Neil Wilson, head of market analysis at Markets.com.
The tourism and leisure sector thus posted the strongest increase in Europe (+4.1%) with a gain of more than 6% for Lufthansa and more than 4% for Accor, among the largest increases in the CAC 40 with Airbus. (+4.39%).
The automotive (+2.47%), basic resources (+2.73%) and banking (+2.29%) sectors also stand out.
In Paris, Renault gained 5.5%, followed not far from ArcelorMittal (+3.87%) and Societe Generale (+2.98%).
(Report Blandine Hénault, edited by Jean-Stéphane Brosse)