In Europe’s central stock exchanges, Monday started with gently rising prices.
President of the United States Joe Biden announced on Sunday that he was withdrawing from the presidential race and stood in support Horrible Harris candidacy.
Biden thus gave up his support for the candidacy of his vice president in the elections held in November.
Nordnet the morning letter notes on Monday that today the focus is on Biden, who on Sunday withdrew from the Democratic presidential nomination.
“The decision was largely priced into the market, but is still expected to impact global equity markets in the coming days and weeks. It is still unclear whether Vice President Kamala Harris will become the Democrats’ new candidate,” sums up the analyst Roger Berntsen.
Nordic in the morning review, it is estimated that for the market, the change of the Democratic candidate so close to the election probably means more volatility.
“Based on betting odds, Harris is now considered the likely Democratic nominee, but Trump is still believed to win the election.”
The bank’s experts point out that many have considered Trump’s election victory to be supportive of the dollar and a tailwind for stocks in the banking, healthcare and energy sectors.
“If Harris’s campaign goes well, the opposite movement may emerge.”
In Europe, the broad Stoxx 600 index was up 0.6 percent during the first hour, driven by the real estate, health and industrial sectors.
Of the industries, only energy had a small decline.
Irish low-cost airline Ryanair announced its clearly reduced results. The share price was down 11 percent. Referring to cautious consumers, the company lowered its forecast for the development of ticket prices.
Wall Street is expected to open higher today based on index futures.
Source: www.arvopaperi.fi
