May 23, 2024

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European stocks open to close, WEF data, Fed minutes

European stocks open to close, WEF data, Fed minutes

LONDON – European shares are expected to open their doors in a mixed bag on Thursday as markets digest the latest signals from the US Federal Reserve regarding an interest rate hike.

United kingdom FTSE index The index is expected to open 4 points lower at 7526, German Dax An increase of 7 points to 14,040 points in France CAC 40 Up two points at 6,310 points and Italy FTSE MIB 39 points higher at 24,234, according to data from IG.

The expected cautious opening for European shares comes after a higher close on Wednesday as global markets attempted to recover from a broad-based decline in the previous session.

In the US, stocks rose on Wednesday after the minutes of the May federal policy meeting showed that the central bank was ready to raise interest rates more than the market had expected.

The minutes of the Federal Reserve’s May 3-4 meeting showed officials He saw the need to raise interest rates quicklyand perhaps more than the market price, to calm the recent inflationary pressures.

Asia Pacific Stocks It struggled for direction in Thursday morning trading as investors reacted to the Federal Reserve’s meeting minutes. US stock futures It was also mixed on Wednesday night as investors digested the disappointing update from Nvidia, the tech industry’s economic leader.

It’s the last day of the World Economic Forum on Thursday, ending with an event that sees global business and politicians come together to discuss the world’s most pressing problems, with the war in Ukraine high on the agenda.

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On Thursday, CNBC will interview the Bulgarian Prime Minister, the Vice President of Palantir, the CEOs of CEPI and Signify and others.

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