London, Monday, 27 June 2022
The DAX in Germany and the benchmark STOXX 600 both increased for a second session on Monday, driven by a gain of more than 2% in technology shares and a more than 10% increase in Prosus NV after the latter announced it will progressively sell down its 28.9% interest in Chinese software giant Tencent. The FTSE 100 also increased, with mining companies among the top performers as commodity prices rose as a result of loosening Covid-19 regulations in China. However, the CAC in France and the IBEX in Spain reversed previous advances to trade lower.
This week, focus will be on the ECB's discussion on central banking, which will feature remarks from Fed Chairman Powell, ECB President Lagarde, and BoE Governor Bailey. Energy prices are a major topic of discussion when the G-7 leaders meet in Germany since rising energy costs are the primary cause of inflation and the decisions made by central banks.
(Report by: The Decision Maker - Finance editors)