European and US stock exchanges showed mixed trends on Wednesday.
While European bourses dominated the gains, shares across the ocean mostly fell in response to Federal Reserve Chairman Jerome Powell’s comments that the US central bank is likely to continue raising the key interest rate to fight inflation.
The FRS kept interest rates unchanged this month, however, speaking at a meeting of global central bankers and economists in Sintra, Portugal, Powell dispelled speculation that the FRS’s Open Market Committee could raise interest rates every other meeting from now on, rather than every meeting it has done so far.
“[Monetārā] policy has not been restrictive enough for long enough,” Powell said.
The words of the head of the FRS fueled the rise of the US dollar.
Oil prices rose after news that US oil reserves fell by 9.6 million barrels last week.
The Dow Jones Industrial Average fell 0.2% to 33,852.66 on Wednesday, the Standard & Poor’s 500 fell less than 0.1% to 4,376.86 and the Nasdaq Composite rose by 0.3% to 13,591.75 points.
London’s FTSE 100 rose 0.5% to 7,500.49 on Wednesday, Frankfurt’s DAX rose 0.6% to 15,949.00 and Paris’ CAC 40 rose 1% to 7,286.32 .
WTI crude oil rose 2.7% to $69.56 a barrel in electronic trading on the New York Stock Exchange on Wednesday. Brent crude oil price on the London Stock Exchange rose by 2.4% to 74.03 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF), the price of natural gas decreased by 1.1% to 34.13 euros per megawatt hour on Wednesday.
The euro fell to $1.0961 to $1.0917 per euro on Wednesday, the British pound fell to $1.2749 to $1.2637 per pound on Wednesday, and the dollar rose to 144.07 against the Japanese yen. to 144.47 yen per dollar. The value of the euro against the British pound rose from 85.97 to 86.36 pence per euro.
2023-06-29 06:28:27
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