U.S. and European stock prices rose mostly on Wednesday, March 10, with the US Congress adopting a $ 1.9 trillion support plan to tackle the Covid-19 crisis, which President Joe Biden intends to help revive the U.S. economy, which has been hit hard by the pandemic. .
Wall Street Index Dow Jones Industrial Average rose to a new record, the index also rose Standard & Poor’s 500but the index Nasdaq Composite slightly decreased.
The Frankfurt Stock Exchange index rose to a new record for the third day in a row, exceeding the mark of 14,500 points for the first time at the close of the exchange. The Paris Stock Exchange index reached its highest level in the last year, approaching the pre-pandemic record, while the London Stock Exchange index fell slightly.
Investor sentiment has been boosted by the adoption of the US economic support plan by the US Congress, as well as more active vaccination against the new coronavirus.
However, rising stock prices this year have been dampened by concerns about a possible rise in inflation and interest rates.
Annual inflation in the US rose to 1.7% in February, up from 1.4% in the previous two months, according to data released by the US Department of Employment on Wednesday.
The increase was driven by a 6.4% rise in fuel prices.
Compared to the previous month, consumer prices in the United States rose by 0.4% in February, after rising by 0.3% month-on-month in January.
Briefing.com analyst Patrick O’Hare said the data was roughly in line with forecasts and reassured investors who had been alarmed by rising US bond yields in recent weeks.
“Wednesday’s data suggest that fears of inflationary pressures have been exaggerated, at least for the time being,” he said. Spreadex market analyst Connor Campbell.
US stock index Dow Jones Industrial Average on Wednesday rose 1.5% to 32,297.02 points, the index Standard & Poor’s 500 rose 0.6% to 3898.81 points, but the index Nasdaq Composite decreased by less than 0.1% to 13,068.83 points.
The London Stock Exchange index FTSE 100 fell less than 0.1% to 6725.60 points on Wednesday, the Frankfurt stock exchange index DAX 30 rose 0.7% to 14,540.25 points, while the Paris stock exchange index CAC 40 rose 1.1% up to 5990.55 points.
In the electronic trading of the New York Stock Exchange, the price of WTI crude oil increased by 0.7% on March 10 to USD 64.44 per barrel. Brent The price of crude oil on the London Stock Exchange rose by 0.6% to $ 67.90 per barrel.
The euro rose against the US dollar from 1.1901 to 1.1932 dollars per euro on Wednesday, the British pound against the US dollar rose from 1.3892 to 1.3928 dollars per pound, and the US dollar against the Japanese yen fell from 108.48 to 108.38 yen per dollar. The euro fell from 85.67 to 85.60 pence per euro against the British pound.
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