European equities mostly ahead at open

News Image

MG News | July 12, 2019 at 01:28 PM GMT+05:00

0:00

July 12: Europe's main stock markets mostly rose in opening deals on Friday, with London's benchmark FTSE 100 index up 0.1 percent at 7,519.31 points.

In the eurozone, the Paris CAC 40 added 0.2 percent to 5,589.68 points, but Frankfurt's DAX 30 slipped 0.1 percent to 12,318.94 compared with the closing level on Thursday.

Markets are on course for a broadly upbeat end to the week after Federal Reserve boss Jerome Powell's congressional testimony all but flicked the switch on a US interest rate cut at the end of the month.

A second day of testimony Thursday essentially reiterated his point.

His comments, which highlighted economic headwinds from the trade war and slowing global growth, sparked a rally on world markets.

"It may be a relatively quiet end to the week as traders digest the last two days of Powell's testimony and US data and weigh up the prospects for interest rates this year," noted Oanda analyst Craig Erlam on Friday.

Asian equities mostly rose Friday but gains were slight as investors applied the brakes after recent advances, with debate also focusing on the depth of an expected US interest rate cut.

The broad gains follow another record lead from Wall Street, where the Dow ended above 27,000 for the first time.

"Equity markets in the US rallied yesterday as traders remain hopeful the Federal Reserve will cut interest rates," noted analyst David Madden at CMC Markets UK.

"Dealers remain divided as the size of the cut and when we might see the rates being lowered, but the view across the board is that monetary policy will be loosened."

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 148,617.78
624.60M
0.86%
1274.27
ALLSHR 91,685.08
1,340.28M
0.74%
669.39
KSE30 45,247.79
197.43M
0.83%
370.74
KMI30 212,370.79
224.51M
1.05%
2209.48
KMIALLSHR 61,227.89
711.87M
1.18%
715.56
BKTi 41,264.02
160.39M
0.54%
221.73
OGTi 30,019.10
23.63M
0.64%
190.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,265.00 113,390.00
108,020.00
-4475.00
-3.97%
BRENT CRUDE 67.46 67.94
67.29
-0.52
-0.76%
RICHARDS BAY COAL MONTHLY 88.70 88.70
88.70
-0.75
-0.84%
ROTTERDAM COAL MONTHLY 96.15 96.75
96.00
-0.40
-0.41%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.01 64.55
63.88
-0.59
-0.91%
SUGAR #11 WORLD 16.34 16.52
16.33
-0.14
-0.85%

Chart of the Day


Latest News
August 30, 2025 at 04:28 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


August 29, 2025 at 06:04 PM GMT+05:00

SCRA inflows offset Rs8.5bn net selling


August 29, 2025 at 05:46 PM GMT+05:00

SECP cuts bonus, right issue timelines



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg