Saturday, April 1, 2023 – 5:54 PM
From: Ramy Samih
Capitals, April 1 / WAM / Global stocks consolidated their gains during last March’s trading, despite the repercussions of the banking sector crisis and the continued pace of raising interest rates to control high inflation rates.
Moz Afzal, Head of Global Investments at EFG International Bank, told Emirates News Agency, WAM: “We believe that equity markets around the world will witness a reasonably positive phase this year, although they will be subject to volatility again due to inflation. And interest.”
And the US Federal Reserve decided last month to raise interest rates by 25 basis points to a range between 4.75 percent and 5 percent, for the ninth time in a row since March 2022.
The US Federal Reserve seeks to confront inflation, which is recording high levels, with an annual rate of 6 percent last February, which is still well above the Fed’s target of 2 percent in the medium term.
According to the monitoring of the Emirates News Agency, WAM, the Standard & Poor’s index on the American Wall Street Stock Exchange rose last month by 3.5%, or the equivalent of 139.2 points, to reach 4109.3 points, compared to 3970.15 points at its previous level at the end of last February.
The “Dow Jones” industrial index rose by 1.9%, gaining 617.4 points, to reach the level of 33274.15 points, compared to its previous level at 32656.7 points, while the “Nasdaq” index, which is dominated by technology stocks, gained about 766 points, or 6.7%, to reach 12221.91. points against 11455.54 points.
In the European markets, the German “DAX” index rose during the past month by 1.7%, equivalent to 263.7 points, to reach the level of 15628.84 points, compared to its previous level at 15365.14 points at the end of last February.
The “Euro Stoxx 50” index rose by 1.8%, equivalent to 76.7 points, to close at 4315.05 points, compared to 4238.38 points at the end of last February, and the French “CAC” index gained about 54.4 points, or 0.7%, to reach 7322.39 points, after it was trading at 7267.93 points. At the end of last February.
On the other hand, the British “FTSE 100” index decreased by 3.1%, equivalent to 244.5 points, to reach the level of 7631.74 points, while the European “Stoxx 600” index decreased by 0.7%, equivalent to 3.3 points, to reach the level of 457.84 points, compared to 461.11 points.
In terms of Asian markets, the Japanese Nikkei index rose on the Tokyo Stock Exchange during the past month by 2.2%, or the equivalent of 595.9 points, to close at 28041.48 points, while the broader Topix index increased by 0.5%, equivalent to 10.22 points, to reach 2003.5 points.
The Hang Seng index closed up by 3.1%, equivalent to 614.2 points, to reach the level of 20400.11 points, while the Indian Senex index increased by 0.05%, or the equivalent of 29.4 points, to close at 58,991.52 points.
Emad Al-Ali / Ramy Samih
