London’s stock market gained 0.59%.
Germany’s stock market increased by 0.62%. Germany’s trade balance for July was €15.9 billion, lower than the expected €18.0 billion.
France experienced a 0.81% rise in its stock market.
Switzerland’s Q2 GDP was unchanged at 0.0% quarter-on-quarter, falling short of the expected +0.1% growth.
Spain saw a 0.9% increase, equivalent to 24,826 new jobless individuals, pushing the total number of people registering as jobless to 2.7 million in August 2023. This was contrary to market predictions of a decrease of 21,300.
The Swiss GDP stagnated in the second quarter of 2023, failing to expand by the projected 0.1%. It remained at the 0.3% increase recorded in the previous quarter, which ended in March.
In Sweden, the current account surplus widened to SEK 68.8 billion in Q2 of 2023, up from SEK 56.9 billion in the same period the previous year.
In Turkey, the annual inflation rate rose for the second month in a row, reaching 58.9% in August 2023 compared to 47.8% in July. This surpassed market expectations of 55.9%. Furthermore, producer inflation in Turkey also grew, reaching 49.41% in August 2023, marking the highest reading in four months.
The pan-European Stoxx 600 (STOXX) climbed 0.7%, with all sectors experiencing gains. This increase was influenced by the positive performance of Asian peers, as well as optimism surrounding China’s property support measures. The mining sector performed particularly well. Additionally, investors continued to assess the future of US interest rates based on the latest economic data.
Coming up in the session: SNB total sight deposits on September 1 at 8:00 GMT. Germany’s September Sentix investor confidence at 8:30 GMT.
Meanwhile, trader attention is focused on ECB President Lagarde’s upcoming statements, which are expected to provide further insights into the central bank’s future actions.
In the bond market, the U.S. 10-year Treasury yield rose by 9 basis points to 4.18%.
Germany’s 10-year yield increased by 3 basis points to 2.56%.
The UK’s 10-year yield grew by 4 basis points to 4.44%.
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