As April 2022 is inching to its end, the pan-European Stoxx 600 index registered growth of 0.8%. The tech shares were mostly leading the show of gains and most of the sectors started entering positive territory. Some noted firms that reported the quarterly results were ASML, Danone and Heineken. All of them climbed more than 5% as per the expectations. The traders and investors were monitoring the situation in the Ukraine. It is important for them to monitor the developments in the Ukraine and also assess the global economic forecasts as released by the International Monetary Fund(IMF). The investors are closely watching the forecast of the World Bank. The European stocks closed higher because the investors were happy to digest the corporate earnings.
The European economies are stable though they are supporting the Ukraine war efforts. In France, Emmanuel Macron succeeded in securing a second term as the French President. The Euro also found support due to this event. The Euro was stable at $1.0802. However, the Dollar managed to gain elsewhere. Against a struggling Sterling, the Dollar managed to secure its two-month high figure.
The Ukraine war, inflation is a matter of concern, but overall the situation is completely stable, and there is no need to worry. The European traders are continuously watching the Russia-Ukraine conflict that has entered its fierce stage. The global growth forecast is mildly affected due to the Russian invasion of Ukraine. The investors are also concerned about factors like interest rates, and they monitor the demands. When the price of essential products like food and gasoline goes up, the investors are concerned about how low-income consumers will manage? In Asia, the price of edible oil jumped after Indonesia, the leading producer, banned palm oil export. The Treasury market was completely steady. The benchmark 10-year yield was at 2.8581%. The investors are also hopeful that the US growth rate will be stable and sufficient enough to bear the rising rate.
The crude oil is already over the figure of $100. There has been bitter fighting in Europe, and it is fluctuating the oil prices. During the trading week, the Brent markets rallied, and it was standing at $105. Due to very tight supply, the price of the oil is fluctuating. The WTI crude futures contract made a gain of 19 cents, and it settled at $102.75. Oil prices have skyrocketed after sanctions have been placed against Russia, which is the second largest exporter of oil. Europe imports a large chunk of its crude oil requirement from Russia.
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