Search

Global Markets Positive Globally, Ahead of Christmas.


London, Athens and Hong Kong, Thursday, 23 December 2021


Investors' risk appetite was strong, according to analysts, while transaction volume was modest in the global stock markets.


Due to the Christmas holiday, several countries' markets, including those in the United States, Germany, and England, will be closed on Friday.


Belgium strengthened restrictions throughout the holiday season to keep COVID-19 cases to a minimum.


The optimistic view in the equities markets was bolstered by the release of US macroeconomic statistics. The country's third-quarter growth rate was revised up from 2.1 percent to 2.3 percent.


The US economy shrunk by 3.4 percent last year, according to third-quarter figures, while growth expectations for 2021 have risen to 5.6 percent, the highest level since 1984.


The Conference Board Consumer Confidence Index in the United States, on the other hand, improved by 6.3 points in December compared to the previous month, reaching 137.9, the highest level in the last five months.


Major US market indexes ended the day higher on Wednesday after the country's health agency approved a tablet to treat coronavirus symptoms at home, easing investor concerns about a pandemic.


Europe


The third-quarter growth rate in the United Kingdom was lowered down to 1.1 percent. It was also projected that by the end of 2022, growth would revert to pre-pandemic levels.


According to figures from the Federal Statistical Office (Destatis), Germany's public debt climbed by 5.1 percent in the first nine months of 2021.


The aggregate public debt climbed to €2.28 trillion ($2.58 trillion), an increase of €111.3 billion ($126 billion).


Businesses are reporting the worst growth since the UK was placed under lockdown earlier this year, according to the Confederation of British Industry, and they foresee similar slowdowns in early 2022.


Meanwhile, the Czech Republic's Central Bank lifted the interest rate by 100 basis points, exceeding expectations, and raising the policy rate to 3.75 percent.

On Wednesday, European stock markets finished higher, extending their gains from the previous session.


After gaining 1.42 percent on Tuesday, the STOXX Europe 600, which comprises about 90% of the market capitalization of the European market in 17 nations, increased 4.37 points, or 0.92 percent, to 478.36.


Asia


On the Asian front, Evergrande, a Chinese real estate corporation traded on the Hong Kong stock exchange, had its stock rise more than 2% after the company indicated that it is putting its resources to good use and will actively engage with its debtors.


Haruhiko Kuroda, the chairman of Japan's central bank, stated that the country's central bank will patiently maintain robust monetary support as long as inflation stays below target.


The Asia Dow, which covers the region's blue-chip businesses, rose 11.74 points, or 0.32 percent, to close at about 3,721 points on Wednesday as a result of these developments.



(Written and edited by: The Decision Maker London, Athens and Hong Kong

teams)