In the United States, the new president Joe Biden the inauguration day pushed shares up on Wednesday, and on Thursday the same boost was seen in European stock markets.
The broad Stoxx Europe 600 index opened up 0.7 percent to around 413 points, and all industries in the index were green, with the exception of real estate.
In particular, information technology was in strong shape, rising 0.8 percent. Communication services also became more expensive.
In addition, the automotive and basic industries strengthened.
Among European countries, the rise in Germany was significant, with the Dax index rising 0.7 percent. However, no particularly strong individual rises were visible.
According to Marketwatch, the confidence of French industry would have recently exceeded expectations, which would support market sentiment.
However, the big explanator of market movements is the beginning of Joe Biden’s election term, which is expected to support stock market policies.
The new president is expected to get through a giant $ 1.9 trillion stimulus package that includes, among other things, $ 1,400 checks for households. This would support not only the US economy in the midst of the interest rate crisis, but also indirectly the European economy.
Biden is also expected to ease trade policy tensions towards Europe.
On Thursday, investors will turn their attention to the European Central Bank meeting in the afternoon Finnish time. No changes in the key interest rate are expected from the ECB, while views on the economic outlook for the euro area are promised.
Source: Arvopaperi by www.arvopaperi.fi.
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