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BMW reports improved margins in third quarter
Deutsche Bank upgrades Kering to “buy”, stock price rises
Outlook comments, buyback reviews drag Maersk
ECB expects inflation.Can’t close the door while hiking – Schnabel
Eurozone yields expected to fall late this week
Updated at 0930 GMT
Written by Ankika Biswas
November 3 (Reuters) – Europe’s benchmark STOXX600 index rose on Friday, posting its best week since March, led by auto stocks.s ssigns of End of monetary tightening policies by major central banks heightened emotions.
Pan-European Index .STOXX It rose 0.2% by 0930 GMT, helped by strong earnings, signs of slowing inflation and a decline in euro zone sovereigns. bond yield About increasing stakes of Rate cut in 2024.
The decision by the US Federal Reserve, the Bank of England, the European Central Bank and others to keep interest rates on hold confirms investors’ expectations that monetary tightening has reached its peak.
Giles Coughlan, chief market analyst at GCFX, said: “There is some cautious optimism that rate hikes will end, but that view is premature as we need to see how the data develops.”
IIt all depends on the trajectory of inflation, Coghlan added.
Meanwhile, ECB Governing Council members Isabel Schnabel He said the central bank was on track to bring inflation back to 2% by 2025, but the central bank should still close the door on further rate hikes as the “last mile” of defusing inflation could be the toughest. pointed out that it was not possible..
real estate .SX86P and car .SXAP The top performing sector this week was energy. .SEXP It was at the bottom of the list.
Auto stocks rose 1.7% on the day, leading the sectoral gains. BMWBMWG.DE forwardd 3.1% or more margin Automotive sales increased in the third quarter, with Volvo Car also Volcker b.ST Jumped 3.3% or less theOctober sale information updated.
nexi NEXII.MI 4.2% increase be report saying US private equity firm Silver Lake is considering acquiring an Italian digital payments company.
andritzAndre Vi Shares rose 5.3% after JPMorgan upgraded the Austrian industrial equipment maker from “neutral” to “overweight” due to a strong backlog of orders for next year.
keringPRTP.PA Shares rose 2% after Deutsche Bank upgraded the French luxury goods group from “hold” to “buy.” the top brand gucci was “Severely undervalued” Intermediary’s view.
AP Moller-MaerskMAERSKb.CO The company fell 11.6% to the bottom of the STOXX 600 after the shipping group clarified its outlook for 2023 and announced a review of its buyout program.
insurance stocks .SXIP The worst hit was France’s AXA, which fell 1.2%, dragged down by a 3.8% decline. AXAF.PA Continue the9 Months result.
(Reporting by Ankika Biswas in Bengaluru; Editing by Varun HK and Devika Syamnath)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.