© Reuters. An electronic billboard shows the German DAX index on the stock exchange in Frankfurt, Germany, on Wednesday. Photograph: Reuters.
(Reuters) – European equities jumped higher on Thursday, rebounding from a nearly two-year low at the start of the session, after US inflation data strengthened bets on Federal interest rate hikes. Reserve.
The European index fluctuated up and down during the session before closing up 0.9% and ending a six-day loss.
The data showed that US consumer prices rose more-than-expected in September, raising the prospect that the Federal Reserve will raise interest rates for the fourth consecutive time by 75 basis points next month.
The Stoxx 600 index fell 4.3% in the previous six sessions, amid market concerns over central bank moves to tighten monetary policy to curb high prices and in light of recent warnings from the International Monetary Fund and the World Bank on the recession.
Of the sectors listed on the Stoxx Index, the financial sector was the biggest stimulus for the index, while technology stocks rose from their lowest levels since May 2020, recorded at the start of the session, and rose 0.3. %.
The index was also boosted by gains in the energy and industry sectors.
Chip makers made up for their losses, gaining between 0.9% and 3%.
Norway’s Norsk Hydro jumped 6.7% after reporting that the US was considering restrictions on Russian aluminum imports.
(Prepared by Noha Zakaria for the Arabic Bulletin – Edited by Ayman Saad Muslim)
