Stock movements
The pointer went up.”Stokes 600“In Europe, it rose by 0.6 percent, driven by a 1.1 percent rise in the automobile sector, to be among the highest profitable sectors.
The sector recorded losses for most of this year.
Continental shares advanced 7.2 percent after the German auto parts manufacturer expected improved profits in its automobile unit in the third quarter.
The German DAX index outperformed the STOXX by registering a jump of one percent.
The STOXX 600 index touched its lowest level in two weeks yesterday, affected by the decline in the mining and luxury goods sectors, as investors feel frustrated by Beijing’s failure to take new stimulus steps.
Other key data this week includes the minutes of the latest US Federal Reserve meetings, US consumer prices, and US bank earnings reports.
The US Central Bank cut interest rates by 50 basis points last month, and investors expect borrowing costs to be reduced twice more this year by 25 basis points each time.
Financial market expectations indicate that traders almost entirely expect a reduction European Central Borrowing costs rise by 25 basis points next week, and they expect a 94 percent chance that they will ease monetary policy again in December.
