US and European stock prices rose on Monday, driven by expectations of an improving economic situation as the new coronavir pandemic subsided.
In recent weeks, stock prices have been hit hard by high inflation, chaos in cryptocurrency markets and supply problems in the context of economic reopening, but concerns about the impact of these factors on business on Monday did not worry investors.
All three major Wall Street indices rose throughout the trading session. The London and Paris stock exchanges also rose, but the Frankfurt stock exchange was closed due to the Pentecost in Germany.
Tower Bridge Advisors analyst Marisa Oga explained the increase in stock market indices with the continuation of central bank monetary stimulus measures, as well as the resumption of normal life after the pandemic.
Briefing.com has speculated that investors have returned to a “fear to miss” mode.
Oil prices rose as market observers noted that there were questions about the prospects for a renewed Iranian nuclear deal. Analysts also pointed to an improvement in the forecast for oil demand.
The Dow Jones Industrial Average rose 0.5% to 34,393.98 points on Monday, the Standard & Poor’s 500 rose 1.0% to 4,197.05 points, and the Nasdaq Composite index rose 1.4% to 13,661.17 points.
The London Stock Exchange index FTSE 100 rose 0.5% to 7051.59 points on Monday, the Frankfurt stock exchange index DAX 30 remained unchanged at 15,437.51 points, while the Paris stock exchange index CAC 40 rose 0.4% to 6408.49 points.
In the New York Stock Exchange e-commerce, the price of WTI crude rose by 3.9% to USD 66.05 per barrel on Monday. The price of Brent crude rose 3.0% to $ 68.46 a barrel on the London Stock Exchange.
The euro rose from 1.2182 to 1.2214 dollars per euro on Monday, the British pound against the US dollar rose from 1.4150 to 1.4155 dollars per pound, and the US dollar against the Japanese yen fell from 108.96 to 108.76 yen per dollar. The euro appreciated against the pound sterling from 86.05 to 86.28 pence per euro.
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