European markets start the week with optimism :: Investor.bg



European markets started the week with optimism

Photo: Reuters

The European markets closed green on Monday, after investors responded to comments from the head of the Federal Reserve on the direction of tightening monetary policy in the United States.

The pan-European index Stoxx 600 ended with an increase of 0.5% and all sectors ended in positive territory.

In Germany the index DAX with an increase of 1.19% to 12542.13 points, while the French SAS – from 0.94% to 5483.32 points. In London, the markets were closed for public holidays.

Within the European benchmark, the German company Metro Group perform best after Ceconomy said he is negotiating to sell the bulk of his 10 percent share in the German wholesaler. Shares of Metro Group jumped 12% during the morning trade.

Markets in Turkey reopened after a long weekend for vacations. The Turkish lira weakened by 3% against the dollar due to continuing concerns about the country's economy. Traders remain cautious about the risks faced by the country, which maintains a full-fledged relationship with the United States after Ankara arrested American priest Andrew Brunson.

Market players reported in the news from Friday and the prices that the Federal Reserve Chairman Jerome Powell expects "even gradual" rate hikes.

Powell said at a meeting in Jackson Hall that the central bank is likely to continue to tighten politics if the economy continues to grow. Last year Powell was the second time under the bombing of Trump, who said in an interview with Reuters that he was "not fascinated" by the interest rates that the central bank had raised.

At the same time, traders had to follow the news Tesla, after his general director Ilon Musk announced that Friday stops planning to take the company off the stock exchange. Shares of Tesla were hit after Musk had announced Twitter, that he plans to take off Tesla othe stock market earlier this month.


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