The Wall Street Nasdaq Composite Index, which had mostly risen to new highs by September 2, but then shrank by 10% in three trading sessions, rose 2.7% on Wednesday.
Tiffany’s share price fell after French luxury goods maker LVMH announced Wednesday that it was canceling the proposed Tiffany takeover, partly due to US threats to impose tariffs on French goods. Tiffany said it would sue LVMH for the termination of the takeover agreement concluded in November 2019.
The London Stock Exchange index FTSE 100 rose 1.4%, driven by the depreciation of the British pound due to concerns about the possibility of a non-negotiable briquette.
“Stock markets are back on the rise, with investors planning to return to their buying trends, which have proven so successful in recent months,” said Chris Boschamp, IG’s chief market analyst.
The share price of the British pharmaceutical group AstraZeneca fell by 0.5% after announcing that it had “voluntarily suspended” a randomized clinical trial of Covid-19 vaccine after one of the volunteers in that trial contracted an unexplained illness.
Oil prices rose, partly offsetting recent price declines.
The Dow Jones Industrial Average rose 1.6% to 27,940.47 points on Wednesday, the Standard & Poor’s 500 rose 2.0% to 3398.96 points, and the Nasdaq Composite rose 2.7% to 11,141.56 points.
The London Stock Exchange index FTSE 100 rose 1.4% to 6012.84 points on Wednesday, the Frankfurt stock exchange index DAX 30 rose 2.1% to 13,237.21 points, while the Paris stock exchange index CAC 40 rose 1.4% to 5042 .98 points.
In the e-commerce of the New York Stock Exchange, the price of WTI crude oil rose by 3.5% on Wednesday to USD 38.05 per barrel. The price of Brent crude rose 2.5% to $ 40.79 a barrel on the London Stock Exchange.
The euro rose against the US dollar from 1.1778 to 1.1805 dollars per euro on Wednesday, the British pound against the US dollar rose from 1.2982 to 1.3000 dollars per pound, and the US dollar against the Japanese yen rose from 106.03 to 106.12 yen per dollar. The value of the euro against the British pound rose from 90.72 to 90.80 pence per euro.
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