Solid Gold Berjangka – European stock markets strengthened during Thursday’s (Nov 5) trading session, extending a rally and moving closer to levels not seen since August. The STOXX 600 index climbed approximately 0.5%, bolstered by a decline in energy prices and solid corporate performance—particularly within the artificial intelligence sector.
Positive sentiment strengthened following the Democratic Party's significant gains in the United States midterm elections. These results eased concerns regarding unilateral trade tariff policies and helped push down global oil prices, thereby increasing investor appetite for riskier assets.
France’s CAC 40 and the UK’s FTSE 100 both rose by about 1%, while Spain’s IBEX 35 gained 0.9% and Italy’s FTSE MIB climbed 0.3%. On the corporate front, shares of Legrand surged 3.4% after the company raised its annual sales growth target, driven by robust demand for data center infrastructure.
In the UK, market attention is focused on the Bank of England, which is expected to raise interest rates by 25 basis points to 4.00%. This move would mark the first rate hike in three years, coming amid persistent inflationary pressures.
Meanwhile, investors are also monitoring a wave of major demonstrations in France that have disrupted transportation, education, and public services. Despite lingering political risks and monetary tightening, European market sentiment remains supported by lower energy costs and strong corporate earnings. (srh)