On July 21, 2024, tourists were visiting the city center in Munich, Germany.
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LONDON – European stocks were higher on Tuesday, with upcoming central bank meetings remaining in focus.
The pan-European Stoxx 600 index was up 0.75% as of 11:10 a.m., with gains on all major exchanges and nearly all sectors. Banking stocks rose 1.33% and technology stocks rose 1.23%.
According to Bloomberg, UniCredit Bank is seeking approval from the European Central Bank to increase its stake in the company by 30%, and the company’s stock price hit a 12-year high. Shares gave up early gains and were trading almost flat.
Elsewhere, retail stocks rose 2.15%, led by British home improvement companies kingfisherup 6.4% after fundraising The lower limit of its profit range On the improvement of sales.
It comes after the region’s benchmark index got off to a rocky start to the week, closing down 0.2% on Monday.
Investors are awaiting key monetary policy decisions this week, with the Federal Reserve widely expected to cut interest rates for the first time in four years on Wednesday.
Policymakers from the Bank of England and the Bank of Japan also meet on Thursday and Friday respectively.
Asia-Pacific markets were mixed on Tuesday, with Japan’s Nikkei 225 index falling more than 2% as the yen strengthened ahead of the Federal Reserve’s decision. U.S. futures were little changed.
Back in Europe, Tuesday’s ZEW Economic Sentiment Index showed that German economic confidence fell slightly in September, another sad sign of the country’s struggling economy.
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