2024-01-18 10:09:16
Global markets
Sky News Arabia – Abu Dhabi
10:03 – January 18, 2024 Frankfurt Stock Exchange
European stocks started Thursday’s session on a positive note, following three consecutive sessions of losses, supported by strong financial results for Richemont, while investors await the release of the minutes of the European Central Bank’s monetary policy meeting later today.
By 0807 GMT, the European STOXX 600 index rose 0.1 percent following falling to its lowest level in six weeks in the previous session.
The index received support from a rise in Richemont shares by 7.3 percent following third-quarter sales of the group that owns Cartier jewelry exceeded estimates thanks to a huge jump in sales in China.
Investors are awaiting the minutes of the European Central Bank’s December meeting for indications on the path the central bank will take with interest rates.
A series of recent statements by policymakers to reduce market expectations has led traders to reduce interest rate cut bets, with expectations currently leaning towards the first rate cut being in April rather than March.
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