European markets ended favorably. Investors followed the measures the UK wanted to take to maintain the economy. In addition, relief came with the Federal Reserve minutes.
The Stoxx Europe 600 index was up 0.78% at 437.71. The London Stock Exchange FTSE-100 was up 0.56% at 7,564. Milan Stock Exchange FTSE MIB rose 1.22% to 24,546. The Madrid Stock Exchange Ibex 35 was up 1.47% at 8,888. The BSI-20, Lisbon stock market was up 1.95% at 6,305.
According to international news outlets, the UK government’s financial assistance will be £ 15 billion (approximately $ 19 billion). This amount will be in the form of loans to help people pay basic bills, especially electricity.
Finally, the minutes of the last Federal Reserve meeting released after the closure of European markets also eased investor sentiment. The central bank has reiterated its 0.50% interest rate commitment for upcoming meetings. However, the negative US GDP results for the first quarter of 2022, released today, also increased the likelihood that central bank rates would not be aggressive. US GDP fell 1.5% while analysts expect it to be minus 1.3%.
The European agenda was empty with the holidays.
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