The Stoxx 600 index saw a 0.6% rise at the start of the week, driven by Israel's cautious military action in Gaza which has redirected investor attention towards the Federal Reserve for interest rate indications. This risk-on move resulted in most sectors trading positively, while oil prices experienced a drop due to the contained conflict in the Middle East.
Shares of Siemens (NS: SIEM ) Energy AG experienced an uptick after Joe Kaeser, its supervisory board chairman, debunked allegations of the turbine maker requiring a government bailout. Shares of Ascential PLC also saw an increase following its proposition to sell Digital Commerce to Omnicom Group (NYSE: OMC ) and WGSN to Apax Funds.
Despite announcing a $3 billion share buyback plan, shares of HSBC Holdings Plc (LON: HSBA ) remained relatively unchanged. There is growing concern about high rates and geopolitical issues potentially pulling down equities, fueled by disappointing regional earnings updates and downward earnings revision.
Investors will be closely monitoring central bank decisions from the Federal Reserve, Bank of Japan, and Bank of England this week, as they push forward recession estimates. Last week, ECB President Christine Lagarde confirmed that despite an unprecedented campaign to raise borrowing costs, the euro area would continue to face pressure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.