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European Shares Silent on French Election; Inflation

by Carl Steward
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European Shares Silent on French Election; InflationEuropean Shares Silent on French Election; Inflation

European shares were unchanged on Monday. Investors assessed the impact of tighter monetary policy on the global economy. French stocks have plummeted since President Emmanuel Macron lost the National Assembly on Sunday. The STOXX 600 index rose 0.01%. Holidays in the US are likely to lead to tough trade. The benchmark fell 4.6% last week as a result of global sales. Concerns about the recession caused this.

CAC 40 fell 0.1%; Whereas the coalition of Macron’s centrist ensemble fell short of the absolute majority needed to control parliament; This significant failure could plunge the country into political paralysis. The country’s central banks, including BNP Paribas, Societe Generale, and Credit Agricole, shrank by about 1%. Renault jumped 3.6% after Jefferies resumed pre-purchase shares. Husqvarna fell 1.8%; After saying that a persistent component supply shortage limited production in the second quarter.

Shares and Firms

Australian stocks were lower after closing on Monday. Losses in the energy, gold, and resources sectors led to a share decline. The S&P/ASX 200 fell 0.64%, reaching a new 52-week low. The top performers of the session at the S&P/ASX 200 were Pointsbet Holdings, which increased by 18.60% and traded at 2.55 at the close. Appen added 9.68% and finished at 5.78. Kogan rose 6.79% in late trading to 2.99. Champion Iron fell 11.94%, and the trade ended at 5.31. Also, Silver Lake Resources was down 9.85% and ended at 1.47. Whitehaven Coal fell 9.20% to 4.54.

Japan shares were lower after closing on Monday. Losses in the shipbuilding, precision instruments, and transport equipment sectors led to a share decline. The Nikkei 225 fell 0.74% and reached a new one-month low. The best session performers on the Nikkei 225 were Kyowa Hakko Kirin, who rose 3.58%. Softbank Group Corp. added 3.03%. Also, Subaru Corp gain 2.55%. The session’s worst performers were Inpex Corp, which fell 9.44% and ended the trade at 1,477.00. Mitsubishi Heavy Industries fell 9.18%. Chiyoda Corp lost 8.24%. The Nikkei volatility has risen 7.77% to a new one-month high.

London Stocks

The London FTSE 100 rose on Monday as energy and financial stocks rose; After the Blue Chips Index released its third consecutive weekly drop due to concerns about slow economic growth. Index and Internal Focus The FTSE 250 index rose 0.3% each. BP and Shell rose 0.8% and 1.3%, respectively. Crude oil prices have risen amid tightening global supplies. London’s primary stock index fell last week due to recession, Growing worries, and the cautious growth of the Bank of England at higher interest rates on bets.

According to economists, it isn’t easy to find positive economic news. Any action is an expression of relief that things have not materially deteriorated. Now the focus is on UK Consumer Price Index data, which come out on Wednesday and the PMI, and the retail sales figures that will come out at the end of the week.

The crisis will only deepen as CPI is expected to continue to rise. Miners fell 1.8% ‘after copper prices fell on fears that a potential recession would hamper demand for metals. Kingspan fell 12.9%; Having said that, the mood in most current markets has deteriorated; The volume of order acceptance has decreased significantly over the past two months. Euromoney jumped 24.3%; It has since said it has received a possible cash offer that could put the information services firm at around 60 1.60 billion. easyJet fell 2.5% as it reduced flights during the busy summer months. US markets will be closed on Monday due to the June holidays.

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