Share prices on the world’s stock exchanges rose on Wednesday after the release of economic data that eased concerns about tighter monetary policy from central banks.
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Wall Street’s Nasdaq Composite rose 1.6% as investors awaited news of Nvidia’s earnings.
Analysts acknowledged that the rise in stock prices was supported by a decline in the yield on the US Treasury’s 10-year bond.
Markets await Friday’s speech by US Federal Reserve Chairman Jerome Powell, which may provide clues about the Fed’s future monetary policy.
European stock prices rose after the release of data showing a decline in British economic activity for the first time in six months and a drop in eurozone private sector activity to a 33-month low.
Oil prices fell as data on weak economic activity did not bode well for crude oil demand.
The Dow Jones Industrial Average rose 0.5% to 34,472.98 on Wednesday, the Standard & Poor’s 500 rose 1.1% to 4,436.01, while the Nasdaq Composite gained 1.6% to 13,721.03 points.
London’s FTSE 100 rose 0.7% to 7,320.53 on Wednesday, Frankfurt’s DAX rose 0.2% to 15,728.41 and Paris’ CAC 40 added 0.1% to 7,246. 62 points.
WTI crude oil fell 0.9% to $78.89 a barrel in electronic trading on the New York Stock Exchange on Wednesday. The price of “Brent” crude oil on the London exchange decreased by 1.0% to 83.21 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF) natural gas price fell by 14.3% to 36.79 euros per megawatt hour on Wednesday.
The euro rose against the US dollar on Wednesday from $1.0846 to $1.0868 per euro, the British pound against the US dollar fell from $1.2732 to $1.2727 per pound and the US dollar against the Japanese yen fell from 145.89 to 144.80 yen per dollar. The euro rose against the British pound from 85.18 to 85.40 pence per euro.
2023-08-24 06:18:18
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