HomeMarket NewsThe European Market: Bright Spots Found Amid U.S.-China Talks

The European Market: Bright Spots Found Amid U.S.-China Talks

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As the spotlight remains on the high-stakes talks between the U.S. and China in the coming days, the markets in Europe are painting a positive picture. Let’s take a closer look at the key highlights.

Green Trends and Upward Movements

London’s UKX showed a 0.61% gain, while Germany’s DAX:IND also saw an increase of 0.26%. Notably, Germany’s current account widened to Π„28.1B in September 2023, up from Π„12.5B in the same month last year. Meanwhile, France’s CAC:IND surged ahead with a 0.48% increase. Additionally, Slovakia’s construction output marked a 6% year-on-year rise in September 2023, showing positive momentum from the previous month’s 4% increase. In Lithuania, a significant turnaround was observed, as it posted a current account surplus of Π„602.6M in September 2023, shifting from a deficit of Π„276.1M in the corresponding month of the previous year.

The Pan-European Stoxx 600 (STOXX)

The pan-European Stoxx 600 (STOXX) managed to climb by 0.66%, setting a buoyant tone amid high-stakes talks between the U.S. and China. Notably, travel and leisure stocks experienced an uptick, contributing to the advancement of most sectors. However, the food and beverage sector witnessed a slight decline.

Bond Market Activities

In the bond market, there were notable movements as well. The U.S. 10-year Treasury yield marked a 2 basis points increase, reaching 4.65%. Similarly, Germany’s 10-year yield experienced an incremental uptick of 1 basis point to attain 2.72%. On the other hand, the U.K.’s 10-year yield maintained stability at 4.33%.

Looking Ahead

For the upcoming session, there are no major events slated for the day. However, currencies such as (EUR:USD), (GBP:USD), and (CHF:USD) are being closely observed, alongside ETFs including (EWG), (GF), (EWI), (EWQ), (EWGS), (FGM), (DBGR), (HEWG), (DAX), (FLFR), (FLGR), (FLIY), (FXB), (EWU), (FKU), (EWUS), (FLGB), and (GREK).

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