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European equities start higher
On Wednesday, European equities started higher underpinned by revenues in the energy sector caused by a soar in crude prices. Meanwhile, market participants waited for the Fed’s policy verdict due later in the day.
In European morning trade, the EURO STOXX 50 gained 0.24%, Germany’s DAX 30 earned 0.09% and France’s CAC 40 soared 0.45%.
Traders were hoping that the Fed’s rate statement is going to disclose more about the bank’s plans for the second half of 2017, with markets focused on details of when and how the bank will start diminishing its $4.5 trillion balance sheet.
Market participants also pay attention to the investigation into hypothetical links between Russia and Donald Trump during the previous year’s election.
On Wednesday, a soar in crude prices pushed energy-related equities up. Stocks in French crude and gas major Total SA inched up 0.31%, Italy’s ENI gained 0.83%, and Spanish counterpart Repsol surged 0.65%.
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.