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European equities soar as geopolitical worries relieve
On Wednesday, European equities started higher because worries over tensions between North Korea and America started subsiding, while demand for the riskier assets gained fresh support.
The EURO STOXX 50 grew 0.65%, France’s CAC 40 acquired 0.66%, Germany’s DAX 30 rallied 0.73%.
Market sentiment was affected after North Korea launched a missile. It passed over northern Japan.
Shinzo Abe, Japan's Prime Minister told that the given launch posed a grave threat to Japan. Additionally, the US, South Korea and Japan asked for a United Nations Security Council gathering to consider the test.
However, market sentiment surged because Donald Trump's reaction to that launch was considered to be relatively moderate than before. He didn’t tell that all options are at hand this time.
Financial stocks generally ascended, erasing last day's losses because French lenders Societe Generale as well as BNP Paribas grew 0.91% and 0.51% respectively. At the same time Germany’s Deutsche Bank and also Commerzbank leapt 1.08% and 1.28% respectively.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.