European Stocks Continue to Rise for The Second Day.
London, Thursday, 7 July 2022
Major European stock exchanges ended Thursday's trading day higher for a second time, with Germany's DAX rising 2% and the benchmark Stoxx 600 rising 2.1%, as signals of sluggish economic growth reduced expectations for how high central banks would boost interest rates to control inflation.
The best-performing stocks included mining and energy companies, while chipmakers also benefited from Samsung's positive quarterly results.
The most recent ECB meeting minutes, which reaffirmed the central bank will hike rates by 25 basis points this month with a potential larger increase in September, are also being considered by traders.
Yesterday, the Fed adopted a hawkisher position and stated that, if necessary, it could adopt a more restrictive monetary policy. Traders also kept an eye on the UK's political unrest following the resignation of Prime Minister Boris Johnson.
(Report by: The Decision Maker)