European stock markets rose slightly on Monday after closing low on the previous trading day. The surge in Covid-19 cases caused many countries in the Eurozone to re-implement pandemic restrictions.
The Stoxx Europe 600 Index rose 0.2% in early trading. After rising every week for the past six weeks, the regional index fell by about 0.1% last week, partly because strong corporate earnings reports helped ease doubts about high inflation.
Germany’s Dax index was flat, while the UK’s FTSE 100 index rose 0.3%.
protest Erupted in European countries such as Austria, Italy and Brussels Last weekend, after the government tightened virus restrictions in response to the increase in the number of infections.
However, stronger containment measures on Monday failed to curb the momentum of European stock markets. “this [European] Ewout van Schaick, director of multi-asset at NN Investment Partners, said that the entire market has become more fragile, but it hasn’t moved so far because the fear of missing opportunities is too great,” he said. “Lack of substitutes. “
Futures contracts tracking the S&P 500 Index of Wall Street blue-chip stocks rose 0.3%, while futures contracts tracking the Nasdaq 100 Index, which is dominated by technology stocks, rose about 0.4%. So far this year, both have risen by more than a quarter.
Asian stock markets were mixed. Hong Kong’s Hang Seng Index fell 0.4%, while China’s CSI 300 Index rose 0.5%. Japan’s Topix Index was basically flat.
At the same time, as investors increasingly turned their attention to advanced economies where interest rates are expected to rise in the coming year, emerging market stock markets fell on Monday after experiencing selling pressure last week.
A broad FTSE barometer of emerging market stocks fell 0.8% in dollar terms and 1.4% last week.
In terms of currencies, the euro was flat against the US dollar on Monday, slightly below US$1.13, and hit its lowest level in 16 months last week, as traders bet that the central bank of the euro zone will stick to it. Ultra-low borrowing costs Even policymakers in the United States and the United Kingdom are expected to raise interest rates.
The Turkish Lira exchange rate against the US dollar is hovering around 11 Turkish Lira, the lowest level in history, second only to the Turkish Central Bank Lower interest rates Last Thursday it dropped 1 percentage point to 15%. In the context of rising inflation, the currency has fallen by more than 30% this year due to a sharp drop in interest rates from 19% in early September.