European Stock Markets Watching: Dax, CAC, Potsi, London Stock Exchange, Inflation, Interest Rates, Nvidia Reports
The European stock markets are closely monitoring a range of indicators including the Dax, CAC, Potsi indices, stock prices and bond prices. As of 13:10 today, the Dax is up by 0.16%, the CAC is down by 0.2%, and the Potsi is down by 0.5%. The majority of shares on the London Stock Exchange are trading down with notable decreases in stock prices for companies such as Ocado Group, Shell, BP, HSBC and Lloyd’s Banking.
On Wall Street yesterday it was reported that Ido had strong third-quarter revenues with their stock price rising by 2.3% in pre-trade. However inflation in the Eurozone fell sharply to 2.9% from 4.3% in September which sparked discussions about potential future interest rate changes led by the Central Bank of Spain and France.
In Asia real estate stocks are standing out after the government’s promise to support them while in Europe investors await news from senior officials at the Central Bank of Europe following inflation decreasing significantly in October to 2.9% from 4.3% in September. The DAX rose by just 0.2%, while both the CAC and FTSE fell slightly around -0.1%. Volatility is expected this afternoon with Canadian inflation data being released and minutes from the Fed’s interest rate meeting coming out later today from FOMC which will add more volatility to financial markets .
Nvidia will release their financial reports today which comes as their stock price is already soaring to an all-time high and there’s a lot of curiosity about what information they will provide regarding their financial health amidst recent market trends . Additionally oil market continues to face concerns about a possible decrease in supply while cryptocurrencies continue on their upward momentum with Bitcoin now trading up around half a percent .