Stocks in Wall Street and Asian markets fell on Monday, but European stocks rose in light pre-holiday trading after last week’s declines that followed significant interest rate hikes.
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Stock prices often soar before Christmas, with small investors in the pre-holiday mood dominating trading.
“[Eiropas akciju] markets are bullish as some traders are optimistic about stock valuations, which they find quite attractive,” said AvaTrade analyst Naeem Aslam.
“We don’t actually have much volume in the markets because traders have gone on vacation,” he added.
Asian stock indices fell amid lingering fears of a possible global recession triggered by efforts by major central banks to fight inflation by raising interest rates.
The US stock index “Dow Jones Industrial Average” fell 0.5% to 32,757.54 points on Monday, the “Standard & Poor’s 500” index fell 0.9% to 3,817.66 points and the index “Nasdaq Composite” decreased by 1.5% to 10,546.03 points.
London’s FTSE 100 rose 0.4% to 7,361.31 on Monday, Frankfurt’s DAX extension 30 index rose 0.4% to 13,942.87 points, while the CAC 40 index of the Paris Stock Exchange rose 0.3% to 6,473.29 points.
WTI crude oil rose 1.2% to $75.19 a barrel on Monday in electronic trading on the New York Stock Exchange. The price of “Brent” crude on the London Stock Exchange rose by 1.0% to 79.80 dollars a barrel.
EUR The euro rose against the US dollar from $1.0586 to $1.0610 on Monday, the British pound against the US dollar was unchanged at $1.2148 per pound, while the US dollar was up against the Japanese yen by 136 .60 to 136.95 yen per dollar. The euro rose against the British pound from 87.14 to 87.31 pence to the euro.
