Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
European shares start higher ahead of ECB verdict
On Thursday, European stocks started higher because market participants were monitoring the European Central Bank's approaching monetary policy verdict, amid ascending expectations that the EU’s major financial institution will announce the unwinding of its highly anticipated asset-purchase program.
The EURO STOXX 50 grew 0.27%, Germany’s DAX 30 soared 0.56% and France’s CAC 40 gained 0.15%
The ECB was believed to leave interest rates intact later on Thursday. Traders were especially waiting for comments by ECB President Mario Draghi for any clues as for the future path of the key bank's stimulus program.
Besides this, market sentiment rose after Donald Trump concluded a shocking deal with Democrats in Congress for the purpose of extending the debt ceiling.
Well, if passed by the Republican-led Congress, the given agreement would ensure government funding until December 15, thus averting an unprecedented default on American government debt.
In London, FTSE 100 soared 0.04%, underpinned by Imperial Brands, whose equities rallied 2.94%.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.