Rtl today – Strong economic data: stocks rise mainly after good US data

Major stock markets rose mainly on Thursday following data confirming a strong economic recovery in the United States.

Frankfurt added 0.3% as traders focusing on Germany eventually struck a deal to form a new government.

This helped offset news that Europe’s largest economy had lowered its growth estimate for the third quarter amid rising Covid cases.

The main Asian indexes mostly ended on gains Thursday after a similar picture overnight on Wall Street.

American markets were closed Thursday for the Thanksgiving holiday.

“The calm Thanksgiving session in global markets saw European indices rise slightly, drawing on a better finish from yesterday, especially in the United States where usual pre-holiday shopping helped. to drive up stocks, ”said Chris Beauchamp, chief market analyst at IG Trading Group.

Oil prices fell, a day after the head of the International Energy Agency called on OPEC and its allies to take action to help bring crude prices down to “reasonable levels.”

A decline in jobless claims in the United States to its lowest level in five decades, as well as an increase in consumer income and spending, has heightened optimism that the United States is well on its way to recovery. recovery, but added pressure on the Federal Reserve to avoid overheating.

The readings came as the minutes from the U.S. central bank’s policy meeting in November showed officials were moving towards curtailing their massive bond-buying stimulus package – known as easing. quantitative – at a faster pace as they tried to control the surge in prices.

The Fed has also indicated that it may raise US interest rates earlier than market expectations to contain the surge in inflation, fueled in large part by high energy prices.

The S&P 500 and Nasdaq closed Wednesday with healthy gains before the Thanksgiving break.

Tokyo led gains in Asia on Thursday, while Seoul was weighed by the South Korean central bank’s decision to raise interest rates.

“Looking ahead, there is heightened uncertainty about the direction of global equity markets, due to concerns about inflation and the impact it will have on central bank policy, as well as the resurgence of the economy. virus, ”ThinkMarkets analyst Fawad Razaqzada said.

– Key figures around 4.30 p.m. GMT –

London – FTSE 100: Up 0.3% to 7,310.37 points (closing)

Frankfurt – DAX: Up 0.3% to 15,917.98 (close)

Paris – CAC 40: + 0.5% to 7,075.87 (closing)

EURO STOXX 50: + 0.4% at 4,293.15

Tokyo – Nikkei 225: UP 0.7% at 29,499.28 (close)

Hong Kong – Hang Seng Index: up 0.2% to 24,740.16 (close)

Shanghai – Composite: DOWN 0.2% to 3,584.18 (close)

New York – Dow: Stock market closed for holidays

Euro / dollar: up to $ 1.1213 from $ 1.1203 at 2210 GMT

Euro / pound: up to 84.16 pence against 84.02 pence

Pound / dollar: down to $ 1.3325 from $ 1.3330

Dollar / yen: LOWER to 115.34 yen against 115.41 yen

North Sea Brent: DOWN 0.2% to $ 82.10 per barrel

West Texas Intermediate: DOWN 0.4% to $ 78.05 per barrel

strawberries-rl / cdw

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