At the opening, European stock markets were cautiously in the red or close to zero.
The Euro Stoxx 600 index was on the negative side of 0.103 percent, while the FTSE 100 was on the plus side with a very small margin of 0.109 percent. OMXS30 was close to zero, reading -0.050 percent.
As the trading progressed, all indices rose close to or above zero.
European indices are therefore doing better than Asia on Thursday. In Asia, the exchange rates were boosted by the strengthening of the yen and the failed acquisition between a Japanese and an American steel giant.
The most important variable in the market right now is US employment. Macro figures for employment will be published tomorrow, Friday. They are one of the most important economic indicators that the central bank uses when making interest rate decisions. A cooled labor market could mean a faster than anticipated reduction in key interest rates.
A bounce back effect can also be expected in the stock markets after the downward trend at the beginning of the week. Semiconductor companies in particular suffered significantly from the beginning of the week in the wake of Nvidia’s collapse.
German factory orders beat expectations
Macro data on German factory orders was released this morning. In July’s monthly measurement, they grew by 2.9 percent, which clearly beat market expectations of -1.7 percent. In June, the figure was +3.9 percent.
According to Bloomberg, analysts are confident that Europe will also see two more 25-basis-point interest rate cuts. This is already priced at the current prices of the financial markets.
Wall Street’s Index Futures look green on Thursday. The futures of the S&P500 index are up 0.117 percent, the Nasdaq 0.136 percent and the Dow Jones index 0.093 percent.
Source: www.arvopaperi.fi
