Global stock markets had a mostly positive week as expectations for central banks to lower interest rates grew, while fears of European political disruptions lessened. In Europe, all benchmarks experienced a rebound, with relief rallies following the French election, where the far-right party did not achieve a majority. UK election exit polls also favored British markets. In the US, Wall Street extended its record-breaking momentum with tech companies leading the charge. Tesla’s shares soared after reporting better-than-expected car deliveries in Q2.
Asian markets also saw gains, with the Japanese Yen weakening against global currencies, boosting the Nikkei 225 index by more than 4% for the week. Australian markets were buoyed by mining and energy stocks, with the ASX 200 up nearly 1%. Chinese markets remained resilient despite trade tensions, with Chinese EV makers’ shares holding strong amid EU tariffs.
Banking and green energy stocks saw rebounds in Europe, while mining and energy stocks were boosted by rising metal and oil prices. The euro strengthened against the US dollar, reaching above 1.08 as the less disruptive French election projection influenced market sentiment. The US markets are expected to continue their positive trend as the tech rally persists and anticipation for Fed rate cuts grows. Overall, global markets appear to be on solid footing as investors navigate through various economic and geopolitical factors.
Source
Photo credit www.euronews.com