Current reporting from the world’s leading markets: the important updates, prominent stocks, bonds and analyst updates
10:47 – Trading in the European stock markets opened higher today (Friday), following the gains recorded yesterday, as investors continue to assess the economic data published this week.
The Euro Stoxx 600 index strengthens by 0.5%, with technology shares rising by 1.5%. The shares of the media sector are among those falling today – at a rate of 0.3%. The POTSI, DAX and KAC indices are rising at this hour by 0.2%, 0.7% and 0.5% respectively. Trading in Asia closed higher – Nikkei, Hang Seng and Shanghai climbed 1.6%, 0.7% and 0.5% respectively.
Across Europe, inflation figures are higher than expected. A forecast for the Eurozone shows that core inflation fell from 8.6% to 8.5%, but still above analysts’ forecasts, while core inflation rose from 5.3% to 5.6%. Prices rose unexpectedly in Germany, France and Spain.
9:40 – The stock markets in the Asia and Pacific region are mostly trading higher today (Friday), this after increases in the indexes in the US at night after the president of the Federal Bank of Atlanta Rafael Bostic said that he supports maintaining interest rate increases of 0.25%.
In China, the Caixin/S&P index for the service sector was published which indicated a jump in activity last month. The index stood at a reading of 55 in February compared to a reading of 52.9 in January. In general, a reading above 50 indicates expansion.
The Hang Seng index in Hong Kong rises by 0.8%, with the index for the technology sector strengthening by 1.6%. In China, the Shanghai index is up 0.5%. In Japan, the Nikkei 225 index rises by 1.6, after inflation in Tokyo slowed down in February compared to January. In Australia, the S&P/ASX 200 climbed by 0.44% and the Kospi index in South Korea rose by 0.15%.