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Europe cheers drop in Fed rate hike bets

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stock markets across Europe advance don Thursday as investors cheered the drop in the Fed rate hike bets.

    At the time of writing, the pan-European Euro Stoxx 600 index was up 1.15%, while the blue chip index Euro Stoxx 600 advanced 1%. Among regional indices, Germany’s DAX index was up 1.3%, UK’s FTSE had gained 1%. France’s CAC had added 1.23%.

    Among stocks, shares in Burberry tanked 12% after it reported first-half retail sales up just 2% year-on-yes, missing forecasts. Other luxury shares also declined with French firms Hermes and LVMH falling deep into negative territory.

    Meanwhile, mining stocks rallied on account of strength in Gold and Comex copper. Shares in Glencore were up 4.3%, while BHP Billiton and Rio Tinto were both trading sharply higher.

    The stock markets across Europe treated “bad news as good news”. The poor retail sales in the US weakened the case of a 25 basis point rate hike in March 2016, which appears to have cheered the stock markets.
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