Stock and oil prices are rising :: Dienas Bizness

Stock prices rose on the US and European stock exchanges on Monday, while the euro rose after the European Central Bank (ECB) President Kristine Lagarde announced that the ECB could end the era of negative interest rates by September.

Stock prices on Wall Street, which had fallen for the most part this year, rose on Monday, closing the trading session with a solid rise.

“This is the day [akciju] The market has finally been able to breathe a sigh of relief, at least for now, “said National Securities strategist Arth Hogan.

Stock prices reacted positively to what US President Joe Biden said he was considering lifting some of the import duties imposed on Chinese goods by former US President Donald Trump.

Biden also said 13 countries have joined the AU-led Asia-Pacific Trade Initiative.

Some market observers also pointed to technical factors that suggest that stock prices may have reached short-term lows and should rise.

The euro appreciated by more than 1% against the US dollar following a statement by ECB President Lagarde that the ECB’s era of negative interest rates is likely to end by September.

“The ECB’s position to end negative interest rates is likely to end by the end of the third quarter,” Lagarda said in a blog post on the ECB’s website.

“This is something we have been waiting for for so long,” said Ipeka Ozkardeskaya, an analyst at Swissquote. “Lagarda finally shows that [inflācijas] the situation is also serious in Europe. “

The ECB had so far refused to follow the example of the US Federal Reserve (FRS) and the Bank of England, which raised interest rates from below low levels to reduce inflation.

The Dow Jones Industrial Average rose 2.0% to 31,880.24 points on Monday, the Standard & Poor’s 500 rose 1.9% to 3,973.75 points and the Nasdaq Composite rose 1.6% to 11,535.27 points.

The London Stock Exchange index FTSE 100 rose 1.7% to 7,513.44 points on Monday, the Frankfurt stock exchange index DAX 30 rose 1.4% to 14,175.40 points, and the Paris stock exchange index CAC 40 rose 1.2% to 6,358 , 74 points.

In the New York Stock Exchange, the price of WTI crude oil remained virtually unchanged on Monday at $ 110.29 a barrel. The price of Brent crude oil rose 0.8% to $ 113.42 a barrel on the London Stock Exchange.

The euro rose from 1.0564 to 1.0692 dollars per euro on Monday, the British pound rose from 1.2480 to 1.2587 dollars per pound, and the US dollar rose from 127.88 against the Japanese yen. to 127.90 yen per dollar. The euro appreciated against the pound sterling from 84.64 to 84.92 pence per euro.

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